GAM Holding AG decreased its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 4.1% in the 1st quarter, HoldingsChannel reports. The firm owned 7,585 shares of the specialty chemicals company’s stock after selling 321 shares during the period. GAM Holding AG’s holdings in LyondellBasell Industries were worth $638,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of LYB. First Command Bank boosted its holdings in shares of LyondellBasell Industries by 64.4% in the 1st quarter. First Command Bank now owns 319 shares of the specialty chemicals company’s stock worth $27,000 after purchasing an additional 125 shares during the period. Destination Wealth Management bought a new stake in LyondellBasell Industries during the 1st quarter valued at $28,000. Berman Capital Advisors LLC bought a new stake in LyondellBasell Industries during the 4th quarter valued at $31,000. Truvestments Capital LLC bought a new stake in LyondellBasell Industries during the 1st quarter valued at $33,000. Finally, Phocas Financial Corp. bought a new position in shares of LyondellBasell Industries in the 4th quarter worth $33,000. 68.94% of the stock is owned by institutional investors.
Several research analysts recently weighed in on LYB shares. Dougherty & Co downgraded LyondellBasell Industries from a “buy” rating to a “neutral” rating in a research note on Friday, February 22nd. Goldman Sachs Group upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and boosted their price target for the company from $104.00 to $125.00 in a research note on Wednesday, March 6th. Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a research note on Friday, April 26th. Jefferies Financial Group upped their target price on LyondellBasell Industries from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America raised LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 price target for the company in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $112.13.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.20 by $0.02. LyondellBasell Industries had a net margin of 11.24% and a return on equity of 38.05%. The company had revenue of $8.78 billion during the quarter, compared to analysts’ expectations of $9.47 billion. During the same period in the previous year, the company earned $3.11 EPS. The business’s quarterly revenue was down 10.1% compared to the same quarter last year. On average, analysts forecast that LyondellBasell Industries NV will post 10.35 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 4.92%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, June 7th. LyondellBasell Industries’s dividend payout ratio is 37.27%.
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LyondellBasell Industries Company Profile
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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