Weiss Asset Management LP Acquires New Holdings in LyondellBasell Industries (NYSE:LYB)

Weiss Asset Management LP acquired a new stake in LyondellBasell Industries (NYSE:LYB – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 93,475 shares of the specialty chemicals company’s stock, valued at approximately $7,037,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AlphaCrest Capital Management LLC lifted its stake in LyondellBasell Industries by 123.8% in the 2nd quarter. AlphaCrest Capital Management LLC now owns 20,328 shares of the specialty chemicals company’s stock valued at $1,778,000 after purchasing an additional 11,243 shares during the last quarter. Credit Agricole S A raised its stake in shares of LyondellBasell Industries by 32.8% during the third quarter. Credit Agricole S A now owns 16,472 shares of the specialty chemicals company’s stock valued at $1,240,000 after acquiring an additional 4,073 shares during the last quarter. Sawtooth Solutions LLC raised its stake in shares of LyondellBasell Industries by 23.7% during the third quarter. Sawtooth Solutions LLC now owns 4,709 shares of the specialty chemicals company’s stock valued at $354,000 after acquiring an additional 901 shares during the last quarter. Commerce Bank raised its stake in shares of LyondellBasell Industries by 21.2% during the third quarter. Commerce Bank now owns 54,050 shares of the specialty chemicals company’s stock valued at $4,069,000 after acquiring an additional 9,456 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in shares of LyondellBasell Industries during the third quarter valued at $16,520,000. Institutional investors own 91.12% of the company’s stock.

LyondellBasell Industries Stock Down 0.4 %

Shares of NYSE LYB opened at $84.68 on Friday. The stock has a market capitalization of $27.60 billion, a P/E ratio of 7.18, a P/E/G ratio of 1.21 and a beta of 1.21. The company has a 50-day moving average price of $94.41 and a 200-day moving average price of $85.92. LyondellBasell Industries has a 1 year low of $71.46 and a 1 year high of $117.22. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.75 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings data on Friday, February 3rd. The specialty chemicals company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.20. The firm had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.73 billion. LyondellBasell Industries had a net margin of 7.71% and a return on equity of 32.96%. The business’s revenue was down 20.5% on a year-over-year basis. During the same period last year, the company earned $3.63 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries will post 9.01 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Monday, March 6th were issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend was Friday, March 3rd. LyondellBasell Industries’s dividend payout ratio is currently 40.34%.

Insider Activity

In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $98.99, for a total transaction of $989,900.00. Following the transaction, the executive vice president now directly owns 47,600 shares of the company’s stock, valued at $4,711,924. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Atlantic Securities raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Tuesday, January 31st. BMO Capital Markets raised their price target on shares of LyondellBasell Industries from $99.00 to $102.00 and gave the company a “market perform” rating in a research note on Wednesday, February 8th. Citigroup raised their price target on shares of LyondellBasell Industries from $80.00 to $92.00 in a research note on Thursday, December 15th. Barclays lifted their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Bank of America lifted their target price on shares of LyondellBasell Industries from $77.00 to $90.00 and gave the stock an “underperform” rating in a research note on Monday, February 6th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $98.95.

LyondellBasell Industries Profile

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.