Rafferty Asset Management LLC purchased a new stake in LyondellBasell Industries NV (NYSE:LYB) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,913 shares of the specialty chemicals company’s stock, valued at approximately $448,000.
Other large investors have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of LyondellBasell Industries NV by 41.5% in the fourth quarter. FMR LLC now owns 24,138,271 shares of the specialty chemicals company’s stock valued at $2,070,581,000 after buying an additional 7,075,742 shares in the last quarter. American International Group Inc. raised its stake in shares of LyondellBasell Industries NV by 1.6% in the first quarter. American International Group Inc. now owns 5,486,417 shares of the specialty chemicals company’s stock valued at $500,306,000 after buying an additional 86,029 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of LyondellBasell Industries NV by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 3,719,506 shares of the specialty chemicals company’s stock valued at $339,182,000 after buying an additional 73,959 shares in the last quarter. Norges Bank purchased a new stake in shares of LyondellBasell Industries NV during the fourth quarter valued at approximately $296,654,000. Finally, Schroder Investment Management Group raised its stake in shares of LyondellBasell Industries NV by 31.8% in the first quarter. Schroder Investment Management Group now owns 3,082,478 shares of the specialty chemicals company’s stock valued at $281,337,000 after buying an additional 743,569 shares in the last quarter. Institutional investors own 74.19% of the company’s stock.
Shares of LyondellBasell Industries NV (LYB) traded up 0.83% on Monday, reaching $81.55. The company had a trading volume of 238,041 shares. The firm has a market capitalization of $32.85 billion, a PE ratio of 9.33 and a beta of 1.04. The company has a 50-day moving average price of $81.30 and a 200-day moving average price of $87.70. LyondellBasell Industries NV has a 52-week low of $69.82 and a 52-week high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last posted its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.00 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by $0.36. The business had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.59 billion. LyondellBasell Industries NV had a return on equity of 60.80% and a net margin of 11.67%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.48 earnings per share. Equities research analysts forecast that LyondellBasell Industries NV will post $9.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 12th. Stockholders of record on Monday, June 5th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This is a positive change from LyondellBasell Industries NV’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.45%. LyondellBasell Industries NV’s payout ratio is presently 41.33%.
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Several equities research analysts have recently weighed in on LYB shares. Vertical Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $88.00 target price on shares of LyondellBasell Industries NV in a research report on Friday. Instinet decreased their target price on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, May 1st. Citigroup Inc. reaffirmed an “overweight” rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Finally, Bank of America Corporation downgraded LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $98.00 to $70.00 in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. LyondellBasell Industries NV currently has an average rating of “Hold” and an average price target of $91.00.
LyondellBasell Industries NV Company 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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