Tocqueville Asset Management L.P. trimmed its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,034 shares of the specialty chemicals company’s stock after selling 1,157 shares during the period. Tocqueville Asset Management L.P.’s holdings in LyondellBasell Industries were worth $886,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in shares of LyondellBasell Industries during the fourth quarter worth $40,322,000. Focused Wealth Management Inc acquired a new stake in LyondellBasell Industries in the 4th quarter valued at $276,000. Gyroscope Capital Management Group LLC increased its stake in LyondellBasell Industries by 1.0% in the 4th quarter. Gyroscope Capital Management Group LLC now owns 60,473 shares of the specialty chemicals company’s stock valued at $6,671,000 after buying an additional 624 shares during the last quarter. Moors & Cabot Inc. acquired a new stake in LyondellBasell Industries in the 4th quarter valued at $1,307,000. Finally, Koch Industries Inc. acquired a new stake in LyondellBasell Industries in the 4th quarter valued at $651,000. Institutional investors and hedge funds own 75.15% of the company’s stock.
Several equities research analysts have issued reports on LYB shares. Morgan Stanley set a $115.00 price target on shares of LyondellBasell Industries and gave the company a “buy” rating in a research note on Saturday, December 2nd. Citigroup upgraded shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Monday, December 18th. Vertical Research lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Tuesday, January 9th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $125.00 price target (up from $110.00) on shares of LyondellBasell Industries in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $108.24.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.18. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $8.82 billion. LyondellBasell Industries had a net margin of 14.15% and a return on equity of 55.09%. LyondellBasell Industries’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.94 EPS. research analysts predict that LyondellBasell Industries NV will post 10.75 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 12th. Stockholders of record on Monday, March 5th were paid a dividend of $1.00 per share. The ex-dividend date was Friday, March 2nd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.00 annualized dividend and a dividend yield of 3.60%. LyondellBasell Industries’s payout ratio is currently 32.65%.
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LyondellBasell Industries 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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