Moneta Group Investment Advisors LLC purchased a new position in shares of LyondellBasell Industries NV (NYSE:LYB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 198 shares of the specialty chemicals company’s stock, valued at approximately $1,396,000.
Several other institutional investors have also modified their holdings of the company. Boenning & Scattergood Inc. lifted its holdings in shares of LyondellBasell Industries by 4.1% in the second quarter. Boenning & Scattergood Inc. now owns 3,212 shares of the specialty chemicals company’s stock worth $277,000 after buying an additional 127 shares in the last quarter. Enterprise Financial Services Corp lifted its stake in LyondellBasell Industries by 47.1% in the 2nd quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 137 shares in the last quarter. Unison Advisors LLC lifted its stake in LyondellBasell Industries by 1.2% in the 2nd quarter. Unison Advisors LLC now owns 12,064 shares of the specialty chemicals company’s stock worth $1,039,000 after purchasing an additional 138 shares in the last quarter. MUFG Americas Holdings Corp boosted its holdings in shares of LyondellBasell Industries by 80.8% during the 2nd quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 147 shares during the last quarter. Finally, FDx Advisors Inc. boosted its holdings in shares of LyondellBasell Industries by 1.2% during the 2nd quarter. FDx Advisors Inc. now owns 12,772 shares of the specialty chemicals company’s stock valued at $1,100,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
Several brokerages have recently issued reports on LYB. Bank of America reduced their target price on LyondellBasell Industries from $110.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price target for the company. in a report on Tuesday, August 13th. UBS Group raised their price target on LyondellBasell Industries from $86.00 to $89.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. Deutsche Bank downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $100.00 to $94.00 in a research note on Monday, June 17th. Finally, BMO Capital Markets decreased their price objective on LyondellBasell Industries from $90.00 to $88.00 and set a “market perform” rating on the stock in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $102.18.
NYSE:LYB traded up $0.80 during mid-day trading on Wednesday, reaching $85.88. The company’s stock had a trading volume of 176,541 shares, compared to its average volume of 2,638,607. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.83. LyondellBasell Industries NV has a 1 year low of $68.61 and a 1 year high of $107.49. The stock has a fifty day moving average of $76.96 and a 200-day moving average of $83.48. The firm has a market capitalization of $28.52 billion, a PE ratio of 7.61, a price-to-earnings-growth ratio of 0.88 and a beta of 1.31.
LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 EPS for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.09). LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. The business had revenue of $9.05 billion for the quarter, compared to analysts’ expectations of $9.26 billion. On average, analysts expect that LyondellBasell Industries NV will post 10.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.89%. LyondellBasell Industries’s dividend payout ratio is presently 37.27%.
In related news, CEO Bhavesh V. Patel bought 7,246 shares of the stock in a transaction on Friday, August 23rd. The stock was bought at an average price of $68.85 per share, for a total transaction of $498,887.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jagjeet S. Bindra bought 1,360 shares of the stock in a transaction on Wednesday, August 14th. The shares were bought at an average price of $73.48 per share, with a total value of $99,932.80. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 773,107 shares of company stock worth $57,638,240. 0.14% of the stock is currently owned by corporate insiders.
About LyondellBasell Industries
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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