Raymond James Trust N.A. raised its position in LyondellBasell Industries NV (NYSE:LYB) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,544 shares of the specialty chemicals company’s stock after acquiring an additional 930 shares during the period. Raymond James Trust N.A.’s holdings in LyondellBasell Industries NV were worth $1,902,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new position in LyondellBasell Industries NV in the 1st quarter valued at approximately $107,000. TrimTabs Asset Management LLC raised its holdings in LyondellBasell Industries NV by 89.1% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after acquiring an additional 640 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in LyondellBasell Industries NV in the 1st quarter valued at approximately $132,000. American Beacon Advisors Inc. acquired a new position in LyondellBasell Industries NV in the 1st quarter valued at approximately $161,000. Finally, Seven Bridges Advisors LLC raised its holdings in LyondellBasell Industries NV by 32.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after acquiring an additional 478 shares in the last quarter. 73.82% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. ValuEngine upgraded LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Cowen and Company reiterated a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries NV in a research note on Monday, August 28th. BidaskClub lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. UBS AG restated a “neutral” rating and set a $88.00 price target (up from $85.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Finally, Deutsche Bank AG restated a “buy” rating and set a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $95.67.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.
Shares of LyondellBasell Industries NV (NYSE:LYB) traded up 0.22% during trading on Tuesday, hitting $93.87. The stock had a trading volume of 630,160 shares. LyondellBasell Industries NV has a 1-year low of $74.02 and a 1-year high of $97.64. The firm has a 50-day moving average of $88.96 and a 200 day moving average of $86.14. The company has a market capitalization of $37.15 billion, a P/E ratio of 10.48 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same quarter in the prior year, the business posted $2.56 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. Equities research analysts predict that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV announced that its Board of Directors has initiated a share buyback program on Wednesday, May 24th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, September 6th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, September 1st. LyondellBasell Industries NV’s payout ratio is 40.18%.
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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