Moneta Group Investment Advisors LLC purchased a new stake in LyondellBasell Industries NV (NYSE:LYB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,208 shares of the specialty chemicals company’s stock, valued at approximately $1,396,000.
Other hedge funds have also modified their holdings of the company. Advisors Preferred LLC acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at $25,000. Prestige Wealth Management Group LLC acquired a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at $26,000. MUFG Americas Holdings Corp raised its holdings in shares of LyondellBasell Industries by 80.8% in the 2nd quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 147 shares in the last quarter. Icon Wealth Partners LLC acquired a new stake in shares of LyondellBasell Industries in the 1st quarter valued at $35,000. Finally, Reilly Financial Advisors LLC raised its holdings in shares of LyondellBasell Industries by 89.4% in the 2nd quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 195 shares in the last quarter. 75.87% of the stock is owned by institutional investors.
NYSE:LYB traded down $0.13 during midday trading on Thursday, hitting $86.72. 4,317 shares of the company were exchanged, compared to its average volume of 3,308,257. The company has a fifty day simple moving average of $78.35 and a 200 day simple moving average of $83.52. LyondellBasell Industries NV has a fifty-two week low of $68.61 and a fifty-two week high of $106.61. The company has a current ratio of 1.47, a quick ratio of 0.85 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $29.03 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.95 and a beta of 1.31.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, September 4th were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.20 annualized dividend and a yield of 4.84%. LyondellBasell Industries’s dividend payout ratio is currently 37.27%.
A number of brokerages have recently weighed in on LYB. Zacks Investment Research lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a report on Tuesday, August 13th. BMO Capital Markets reduced their price objective on shares of LyondellBasell Industries from $90.00 to $88.00 and set a “market perform” rating on the stock in a report on Monday, August 5th. Citigroup began coverage on shares of LyondellBasell Industries in a report on Friday, July 12th. They issued a “neutral” rating and a $92.00 price objective on the stock. Cowen reduced their price objective on shares of LyondellBasell Industries from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Monday, August 12th. Finally, Nomura reduced their price objective on shares of LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $101.35.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc acquired 764,501 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $74.61 per share, for a total transaction of $57,039,419.61. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bhavesh V. Patel acquired 7,246 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was acquired at an average price of $68.85 per share, for a total transaction of $498,887.10. The disclosure for this purchase can be found here. Insiders have purchased a total of 773,107 shares of company stock worth $57,638,240 over the last quarter. 0.14% of the stock is owned by company insiders.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.
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