LyondellBasell Industries (NYSE:LYB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its position in shares of LyondellBasell Industries (NYSE:LYB) by 36.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,581 shares of the specialty chemicals company’s stock after selling 7,732 shares during the period. Cornercap Investment Counsel Inc.’s holdings in LyondellBasell Industries were worth $1,302,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in LyondellBasell Industries by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 89,513 shares of the specialty chemicals company’s stock valued at $8,584,000 after purchasing an additional 1,156 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in LyondellBasell Industries during the third quarter worth about $148,000. Lifeworks Advisors LLC boosted its position in LyondellBasell Industries by 31.5% during the third quarter. Lifeworks Advisors LLC now owns 26,884 shares of the specialty chemicals company’s stock worth $2,578,000 after acquiring an additional 6,436 shares during the last quarter. KBC Group NV raised its holdings in LyondellBasell Industries by 29.0% in the 3rd quarter. KBC Group NV now owns 484,058 shares of the specialty chemicals company’s stock valued at $46,421,000 after acquiring an additional 108,928 shares during the last quarter. Finally, Hourglass Capital LLC lifted its stake in LyondellBasell Industries by 21.2% in the 3rd quarter. Hourglass Capital LLC now owns 83,882 shares of the specialty chemicals company’s stock worth $8,044,000 after purchasing an additional 14,645 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

LYB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft cut their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays reduced their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Finally, Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $82.56 on Friday. The company has a market cap of $26.81 billion, a P/E ratio of 12.57, a P/E/G ratio of 2.33 and a beta of 1.08. LyondellBasell Industries has a 1-year low of $82.20 and a 1-year high of $107.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a 50-day moving average of $91.58 and a two-hundred day moving average of $95.15.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.46 EPS. As a group, analysts anticipate that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.