HPM Partners LLC lowered its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,747 shares of the specialty chemicals company’s stock after selling 132 shares during the quarter. HPM Partners LLC’s holdings in LyondellBasell Industries NV were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new stake in shares of LyondellBasell Industries NV during the first quarter worth $107,000. TrimTabs Asset Management LLC increased its position in shares of LyondellBasell Industries NV by 89.1% during the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 640 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in shares of LyondellBasell Industries NV during the first quarter worth $132,000. American Beacon Advisors Inc. purchased a new stake in shares of LyondellBasell Industries NV during the first quarter worth $161,000. Finally, Seven Bridges Advisors LLC increased its position in shares of LyondellBasell Industries NV by 32.8% during the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after acquiring an additional 478 shares during the period. 73.82% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total transaction of $287,580.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.09% of the stock is owned by corporate insiders.
A number of research firms have recently weighed in on LYB. UBS AG reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of LyondellBasell Industries NV in a research report on Sunday, June 25th. BidaskClub lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC set a $88.00 price objective on LyondellBasell Industries NV and gave the stock a “hold” rating in a research report on Monday, August 21st. ValuEngine raised LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $94.00 target price (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. LyondellBasell Industries NV presently has an average rating of “Hold” and an average target price of $95.67.
LyondellBasell Industries NV (LYB) opened at 93.66 on Tuesday. The firm has a 50-day moving average of $88.96 and a 200 day moving average of $86.14. LyondellBasell Industries NV has a 1-year low of $74.02 and a 1-year high of $97.64. The firm has a market cap of $37.07 billion, a P/E ratio of 10.46 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.56 EPS. On average, analysts predict that LyondellBasell Industries NV will post $9.93 EPS for the current year.
LyondellBasell Industries NV announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 24th that allows the company to buyback 1,000% of shares. This buyback authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, September 1st. LyondellBasell Industries NV’s payout ratio is currently 40.18%.
LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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