According to the most recent report that Payden & Rygel submitted to the Securities and Exchange Commission (SEC), the investment company decreased the amount of LyondellBasell Industries (NYSE: LYB) stock it owned during the third quarter.
Payden & Rygel filed this report with the SEC.
After selling 147,400 shares of the company’s stock during the relevant period, the institutional investor was left with a total holding of 53,820 shares of the specialty chemicals company’s stock.
Payden & Rygel determined that LyondellBasell Industries was worth $4,052,000 to its shareholders at the end of the most recent fiscal quarter.
Several other hedge funds have also changed their stakes in the company in the most recent period.
In the second quarter, Alpha Paradigm Partners LLC made a total investment of $26,000 to acquire a new position composed of LyondellBasell Industries.
During the second quarter of this year, Chilton Capital Management LLC made a new investment in LyondellBasell Industries worth $26,000.
The Trust Company of Vermont increased the amount of LyondellBasell Industries stock owned by 1,033.3% during the third quarter.
Trust Company of Vermont now has 340 shares of the specialty chemicals company’s stock, currently valued at $26,000.
This is because, during the relevant period, the company made an additional purchase of 310 shares, bringing its total number of shares to 340.
Leelyn Smith LLC invested approximately $29,000 in LyondellBasell Industries during the second quarter, allowing the company to acquire a new holding.
And finally, during the third quarter, Ten Capital Wealth Advisors LLC spent $32,000 to acquire additional shares of LyondellBasell Industries.
This purchase was made during the company’s third-quarter financial report.
The vast majority of the stock is owned by hedge funds and other institutional investors (91.2%).
Jeffrey A. Kaplan, Executive Vice President of the company, sold 10,000 shares of the company’s stock on February 7.
This is a separate occurrence.
A total of $989,900.00 was received for the sale of the shares, which works out to a price of $98.99 per share on average. Following the completion of the acquisition, the executive vice president has amassed a total of 47,600 company shares, which have a value of $4,711,924.
The sale was made known to the general public through a document initially submitted to the SEC and then made available online by the SEC.
Insiders have sold 10,240 shares of company stock for a total value of $1,010,327 during the first ninety days of the company’s existence. Currently, 0.18% of the company’s stock is held by company insiders.
As a result of LYB’s impressive performance as of late, several different brokerage firms have expressed interest in the company.
The “buy” recommendation that StockNews.com had previously issued for LyondellBasell Industries was changed to a “hold” rating in a research report made available to the general public on Saturday.
The UBS Group published a research report on January 11, 2019, giving LyondellBasell Industries a “neutral” rating and raising their price objective on the stock from $80.00 to $90.00.
The report also stated that they had raised their price target on the stock from $80.00 to $90.00.
LyondellBasell Industries was the subject of the report.
LyondellBasell Industries received a “sector perform” rating from the Royal Bank of Canada in a research note published on Tuesday, February 7.
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