Northern Capital Management LLC raised its stake in LyondellBasell Industries (NYSE:LYB) by 26.0% during the second quarter, Holdings Channel reports. The fund owned 17,110 shares of the company’s stock after buying an additional 3,535 shares during the period. Northern Capital Management LLC’s holdings in LyondellBasell Industries were worth $1,273,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of LyondellBasell Industries during the second quarter valued at $184,074,000. Franklin Resources Inc. raised its position in shares of LyondellBasell Industries by 566.7% in the first quarter. Franklin Resources Inc. now owns 2,711,999 shares of the company’s stock valued at $232,097,000 after buying an additional 2,305,218 shares during the last quarter. Anchor Bolt Capital LP raised its position in shares of LyondellBasell Industries by 72.1% in the first quarter. Anchor Bolt Capital LP now owns 1,160,225 shares of the company’s stock valued at $99,292,000 after buying an additional 485,904 shares during the last quarter. PGGM Investments raised its position in shares of LyondellBasell Industries by 131.4% in the second quarter. PGGM Investments now owns 613,548 shares of the company’s stock valued at $45,660,000 after buying an additional 348,416 shares during the last quarter. Finally, Credit Agricole S A raised its position in shares of LyondellBasell Industries by 47.3% in the first quarter. Credit Agricole S A now owns 960,077 shares of the company’s stock valued at $82,165,000 after buying an additional 308,367 shares during the last quarter. Institutional investors own 71.62% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded up 0.22% during mid-day trading on Monday, reaching $80.84. The company’s stock had a trading volume of 3,204,395 shares. The stock’s 50 day moving average price is $78.28 and its 200 day moving average price is $80.30. The stock has a market capitalization of $33.61 billion, a P/E ratio of 8.73 and a beta of 1.46. LyondellBasell Industries has a 1-year low of $69.10 and a 1-year high of $98.25.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The business earned $7.33 billion during the quarter, compared to analyst estimates of $7.64 billion. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The company’s revenue was down 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.81 earnings per share. Analysts expect that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders 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 dividend yield of 4.21%. LyondellBasell Industries’s dividend payout ratio is presently 36.68%.
LYB has been the subject of several analyst reports. Vetr upgraded LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $85.17 price objective for the company in a research report on Monday, June 27th. JPMorgan Chase & Co. lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $100.00 to $80.00 in a research report on Thursday, June 23rd. Deutsche Bank AG raised their price target on LyondellBasell Industries from $80.00 to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, September 13th. Cowen and Company lowered LyondellBasell Industries from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $105.00 to $87.00 in a research report on Monday, June 13th. Finally, Royal Bank Of Canada lowered LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $100.00 to $84.00 in a research report on Monday, June 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $90.60.
In other 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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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