Grantham Mayo Van Otterloo & Co. LLC decreased its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 22.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,379 shares of the specialty chemicals company’s stock after selling 24,700 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in LyondellBasell Industries were worth $7,268,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of LYB. Advisors Preferred LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter valued at about $25,000. MUFG Americas Holdings Corp increased its position in shares of LyondellBasell Industries by 80.8% during 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 during the last quarter. Icon Wealth Partners LLC bought a new position in shares of LyondellBasell Industries during the 1st quarter valued at about $35,000. Reilly Financial Advisors LLC increased its position in shares of LyondellBasell Industries by 89.4% during 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 during the last quarter. Finally, Enterprise Financial Services Corp increased its position in shares of LyondellBasell Industries by 47.1% during the 2nd quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra purchased 1,360 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $73.48 per share, with a total value of $99,932.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Ai Investments Holdings Llc acquired 764,501 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $74.61 per share, with a total value of $57,039,419.61. The disclosure for this purchase can be found here. Insiders acquired a total of 773,107 shares of company stock worth $57,638,240 over the last three months. Corporate insiders own 0.14% of the company’s stock.
Several equities analysts have recently commented on the company. Nomura reduced their price objective on LyondellBasell Industries from $93.00 to $91.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price objective for the company. in a report on Tuesday, August 13th. Deutsche Bank cut LyondellBasell Industries from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $100.00 to $94.00 in a report on Monday, June 17th. Citigroup initiated coverage on LyondellBasell Industries in a research note on Friday, July 12th. They issued a “neutral” rating and a $92.00 target price for the company. Finally, Bank of America lowered their target price on LyondellBasell Industries from $110.00 to $98.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $102.18.
NYSE LYB opened at $85.71 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.47 and a quick ratio of 0.85. The stock’s fifty day moving average price is $76.95 and its 200 day moving average price is $83.46. LyondellBasell Industries NV has a 1 year low of $68.61 and a 1 year high of $107.49. The company has a market cap of $28.73 billion, a price-to-earnings ratio of 7.61, a PEG ratio of 0.88 and a beta of 1.31.
LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.84 by ($0.09). LyondellBasell Industries had a return on equity of 35.20% and a net margin of 9.83%. The firm had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.26 billion. Research analysts expect that LyondellBasell Industries NV will post 10.27 earnings per share for the current year.
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 $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date of this dividend was Tuesday, September 3rd. LyondellBasell Industries’s dividend payout ratio is presently 37.27%.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, 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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