Swiss National Bank trimmed its holdings in LyondellBasell Industries (NYSE:LYB – Free Report) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 940,300 shares of the specialty chemicals company’s stock after selling 93,600 shares during the quarter. Swiss National Bank owned about 0.29% of LyondellBasell Industries worth $86,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in shares of LyondellBasell Industries by 11.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,008 shares of the specialty chemicals company’s stock valued at $93,000 after purchasing an additional 106 shares during the period. Blair William & Co. IL increased its position in LyondellBasell Industries by 1.0% in the 1st quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock valued at $1,112,000 after buying an additional 107 shares in the last quarter. Quantinno Capital Management LP increased its position in LyondellBasell Industries by 0.5% in the 2nd quarter. Quantinno Capital Management LP now owns 23,570 shares of the specialty chemicals company’s stock valued at $2,165,000 after buying an additional 108 shares in the last quarter. Commerce Bank increased its position in LyondellBasell Industries by 1.0% in the 2nd quarter. Commerce Bank now owns 10,545 shares of the specialty chemicals company’s stock valued at $968,000 after buying an additional 108 shares in the last quarter. Finally, Norwood Financial Corp increased its position in LyondellBasell Industries by 4.7% in the 2nd quarter. Norwood Financial Corp now owns 2,475 shares of the specialty chemicals company’s stock valued at $227,000 after buying an additional 110 shares in the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on LYB. Wells Fargo & Company boosted their target price on LyondellBasell Industries from $100.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $99.00 to $107.00 in a research report on Wednesday, October 18th. Morgan Stanley reissued an “overweight” rating and set a $100.00 price objective on shares of LyondellBasell Industries in a report on Wednesday, July 19th. KeyCorp raised LyondellBasell Industries from an “underweight” rating to a “sector weight” rating in a report on Tuesday, October 3rd. Finally, Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $104.00 to $106.00 in a report on Tuesday, October 3rd. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Moderate Buy” and an average target price of $102.07.
Insider Activity at LyondellBasell Industries
In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total value of $975,600.00. Following the transaction, the executive vice president now owns 49,876 shares in the company, valued at $4,865,902.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.12% of the stock is owned by company insiders.
LyondellBasell Industries Stock Performance
LYB stock opened at $97.24 on Thursday. The firm has a market cap of $31.54 billion, a PE ratio of 13.93, a P/E/G ratio of 1.35 and a beta of 1.19. The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $94.11 and a 200-day moving average of $93.32. LyondellBasell Industries has a 12-month low of $79.20 and a 12-month high of $102.04.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last posted its quarterly earnings data on Friday, October 27th. The specialty chemicals company reported $2.46 EPS for the quarter, beating the consensus estimate of $2.03 by $0.43. LyondellBasell Industries had a return on equity of 22.15% and a net margin of 5.53%. The business had revenue of $10.63 billion for the quarter, compared to the consensus estimate of $10.10 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, sell-side analysts expect that LyondellBasell Industries will post 8.71 earnings per share for the current year.
LyondellBasell Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 28th were paid a $1.25 dividend. The ex-dividend date was Friday, August 25th. This represents a $5.00 annualized dividend and a yield of 5.14%. LyondellBasell Industries’s payout ratio is 71.63%.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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