BlackRock Advisors LLC reduced its position in shares of LyondellBasell Industries (NYSE:LYB) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 233,001 shares of the company’s stock after selling 71,602 shares during the period. BlackRock Advisors LLC owned approximately 0.06% of LyondellBasell Industries worth $17,339,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in LYB. Vanguard Group Inc. increased its stake in shares of LyondellBasell Industries by 1.6% in the second quarter. Vanguard Group Inc. now owns 23,274,506 shares of the company’s stock worth $1,732,089,000 after buying an additional 360,118 shares in the last quarter. Credit Capital Investments LLC increased its position in LyondellBasell Industries by 21,119.3% in the second quarter. Credit Capital Investments LLC now owns 4,212,246 shares of the company’s stock worth $4,212,000 after buying an additional 4,192,395 shares during the period. Iridian Asset Management LLC CT increased its position in LyondellBasell Industries by 23.2% in the second quarter. Iridian Asset Management LLC CT now owns 4,054,132 shares of the company’s stock worth $301,709,000 after buying an additional 762,920 shares during the period. Boston Partners increased its position in LyondellBasell Industries by 19.9% in the second quarter. Boston Partners now owns 3,199,165 shares of the company’s stock worth $238,081,000 after buying an additional 529,952 shares during the period. Finally, Geode Capital Management LLC increased its position in LyondellBasell Industries by 3.9% in the first quarter. Geode Capital Management LLC now owns 3,165,347 shares of the company’s stock worth $270,393,000 after buying an additional 117,962 shares during the period. 71.62% of the stock is currently owned by institutional investors.
LyondellBasell Industries (NYSE:LYB) opened at 80.00 on Thursday. The stock has a market capitalization of $33.26 billion, a P/E ratio of 8.64 and a beta of 1.71. The firm’s 50-day moving average is $77.83 and its 200 day moving average is $80.46. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $98.25.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.51 by $0.06. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same quarter in the previous year, the firm earned $2.81 EPS. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. Equities research analysts anticipate that LyondellBasell Industries will post $9.61 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were paid a dividend of $0.85 per share. The ex-dividend date of this dividend was Friday, August 12th. This represents a $3.40 annualized dividend and a yield of 4.25%. LyondellBasell Industries’s payout ratio is 36.68%.
LYB has been the topic of a number of recent analyst reports. RBC Capital Markets reaffirmed a “hold” rating and issued a $82.00 target price on shares of LyondellBasell Industries in a research report on Tuesday, September 20th. Susquehanna dropped their target price on shares of LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a research report on Friday, August 26th. Morgan Stanley reaffirmed a “buy” rating on shares of LyondellBasell Industries in a research report on Thursday, June 16th. Vetr raised shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $84.88 target price on the stock in a research report on Monday, August 1st. Finally, Nomura reaffirmed a “hold” rating on shares of LyondellBasell Industries in a research report on Monday, July 11th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $88.86.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the business’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total transaction of $300,037.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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