Cipher Capital LP lessened its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 90.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,600 shares of the specialty chemicals company’s stock after selling 62,668 shares during the quarter. Cipher Capital LP’s holdings in LyondellBasell Industries NV were worth $557,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYB. Jennison Associates LLC grew its holdings in LyondellBasell Industries NV by 19.6% during the 1st quarter. Jennison Associates LLC now owns 6,596 shares of the specialty chemicals company’s stock valued at $601,000 after buying an additional 1,081 shares in the last quarter. FTB Advisors Inc. grew its holdings in LyondellBasell Industries NV by 12.2% during the 1st quarter. FTB Advisors Inc. now owns 22,499 shares of the specialty chemicals company’s stock valued at $2,051,000 after buying an additional 2,455 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in LyondellBasell Industries NV by 34.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 131,331 shares of the specialty chemicals company’s stock valued at $12,091,000 after buying an additional 33,603 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in LyondellBasell Industries NV by 4.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 30,850 shares of the specialty chemicals company’s stock valued at $2,813,000 after buying an additional 1,300 shares in the last quarter. Finally, Henderson Group PLC grew its holdings in LyondellBasell Industries NV by 1.1% during the 1st quarter. Henderson Group PLC now owns 45,966 shares of the specialty chemicals company’s stock valued at $4,191,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 73.81% of the company’s stock.
LYB has been the subject of a number of recent research reports. UBS AG reiterated a “neutral” rating and issued a $85.00 target price (down previously from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. BidaskClub cut LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $88.00 target price on LyondellBasell Industries NV and gave the stock a “hold” rating in a report on Monday, August 21st. ValuEngine upgraded LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $94.00 target price (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $95.67.
LyondellBasell Industries NV (NYSE LYB) opened at 91.60 on Friday. The company’s 50-day moving average price is $88.90 and its 200-day moving average price is $86.30. The stock has a market cap of $36.26 billion, a PE ratio of 10.23 and a beta of 1.04. LyondellBasell Industries NV has a 12-month low of $74.02 and a 12-month high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.14. The company had revenue of $8.40 billion during the quarter, compared to analyst estimates of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.56 earnings per share. On average, equities analysts expect that LyondellBasell Industries NV will post $9.93 EPS for the current fiscal year.
LyondellBasell Industries NV declared that its board has approved a stock repurchase program on Wednesday, May 24th that permits the company to buyback 1,000% of shares. This buyback authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th will be given a $0.90 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $3.60 annualized dividend and a yield of 3.93%. LyondellBasell Industries NV’s payout ratio is 40.18%.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
About LyondellBasell Industries NV
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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