Meiji Yasuda Life Insurance Co decreased its position in LyondellBasell Industries NV (NYSE:LYB) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,180 shares of the specialty chemicals company’s stock after selling 1,170 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in LyondellBasell Industries were worth $856,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of LYB. Oregon Public Employees Retirement Fund raised its holdings in LyondellBasell Industries by 7,934.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,343,271 shares of the specialty chemicals company’s stock valued at $160,000 after acquiring an additional 13,177,190 shares in the last quarter. Norges Bank acquired a new stake in LyondellBasell Industries in the fourth quarter valued at approximately $259,614,000. Deutsche Bank AG raised its holdings in LyondellBasell Industries by 45.4% in the fourth quarter. Deutsche Bank AG now owns 4,474,550 shares of the specialty chemicals company’s stock valued at $372,096,000 after acquiring an additional 1,396,953 shares in the last quarter. Two Sigma Advisers LP raised its holdings in LyondellBasell Industries by 107.3% in the fourth quarter. Two Sigma Advisers LP now owns 1,949,246 shares of the specialty chemicals company’s stock valued at $162,099,000 after acquiring an additional 1,009,000 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in LyondellBasell Industries by 1,378.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,074,945 shares of the specialty chemicals company’s stock valued at $89,393,000 after acquiring an additional 1,002,221 shares in the last quarter. 68.94% of the stock is currently owned by hedge funds and other institutional investors.
LYB has been the topic of several analyst reports. Nomura raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and raised their target price for the company from $87.00 to $113.00 in a report on Monday, April 15th. Bank of America raised shares of LyondellBasell Industries from an “underperform” rating to a “buy” rating and set a $105.00 target price on the stock in a report on Tuesday, April 2nd. Jefferies Financial Group raised their target price on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a report on Tuesday. Alembic Global Advisors set a $120.00 target price on shares of LyondellBasell Industries and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Goldman Sachs Group raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $104.00 to $125.00 in a report on Wednesday, March 6th. Two research 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 released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.47 billion. During the same quarter last year, the company earned $3.11 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. On average, equities research analysts predict that LyondellBasell Industries NV will post 10.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.05 per share. The ex-dividend date is Friday, June 7th. This represents a $4.20 dividend on an annualized basis and a yield of 4.88%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 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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