Vanguard Group Inc. increased its stake in LyondellBasell Industries (NYSE: LYB – Get Rating) by 0.8% in the third quarter, according to its latest Securities and Exchange Commission (SEC) filing. The fund owned his 32,347,352 shares of specialty chemicals company stock after purchasing an additional 271,342 shares during the period. Vanguard Group Inc. owned approximately 9.93% of LyondellBasell Industries worth $2,435,108,000 as of its latest filing with the Securities and Exchange Commission (SEC).
Many other hedge funds and other institutional investors have also changed positions in the company. AlphaCrest Capital Management LLC increased his stake in LyondellBasell Industries by 123.8% in the second quarter. AlphaCrest Capital Management LLC now owns 20,328 shares of the specialty chemicals company worth $1,778,000 after he purchased an additional 11,243 shares last quarter. Credit Agricole SA increased his LyondellBasell Industries holding by 32.8% in the third quarter. Credit Agricole SA now owns 16,472 shares of the specialty chemicals company worth $1,240,000 after he purchased an additional 4,073 shares during the last quarter. Sawtooth Solutions LLC increased its stake in LyondellBasell Industries by 23.7% in the third quarter. Sawtooth Solutions LLC now owns 4,709 shares of specialty chemicals company valued at $354,000 after purchasing an additional 901 shares during the previous quarter. Commerce Bank increased its holding in LyondellBasell Industries by 21.2% in the third quarter. Commerce Bank now owns 54,050 shares of the specialty chemical company valued at $4,069,000 after purchasing an additional 9,456 shares during the last quarter. Finally, Great West Life Assurance Co. Can acquired a new stake in his LyondellBasell Industries worth approximately $16,520,000 in the third quarter. Institutional investors and hedge funds own 91.12% of the company’s shares.
LyondellBasell Industrial Price/Performance Ratio
LYB shares opened at $91.16 on Friday. His one-year low for LyondellBasell Industries is $71.46 and his one-year high is $117.22. The stock has a market cap of $29.72 billion, a PE ratio of 7.73, a price/earnings ratio of 1.30, and a beta of 1.21. The company has a debt to equity ratio of 0.83, a current ratio of 1.75 and a quick ratio of 1.04. The company has a 50-day moving average price of $94.33 and a 200-day moving average price of $86.01.
LyondellBasell Industries (NYSE:LYB – Get Rating) last reported quarterly results on Friday, February 3rd. The specialty chemicals company posted earnings per share of $1.29 for the quarter, beating analysts’ consensus forecast of $1.09 by $0.20. LyondellBasell Industries had a net profit margin of 7.71% and a return on equity of 32.96%. The company posted revenue of $10.21 billion for the quarter, compared to analyst estimates of $10.73 billion. Earnings per share in the year-ago quarter were $3.63. LyondellBasell Industries’ quarterly earnings were down 20.5% compared to the same quarter last year. As a group, sell-side analysts expect LyondellBasell Industries to post 9.01 EPS this year.
LyondellBasell Industries Announces Dividend
The business recently announced a quarterly dividend payable on Monday, March 13th. Investors of record on Monday, March 6 will receive a dividend of $1.19. The ex-dividend date for this dividend is Friday, March 3. This represents his $4.76 dividend and 5.22% yield on an annual basis. LyondellBasell Industries’ dividend payout ratio (DPR) is currently 40.34%.
Wall Street analyst opinion
LYB has been the subject of several research reports. Credit Suisse Group upgraded LyondellBasell Industries’ stock from ‘underperform’ to ‘outperform’ and set a target price for the company at $109.00 in its report on Monday, February 6th. BMO Capital Markets has raised its price target on LyondellBasell Industries stock from $99.00 to $102.00, giving it a “Market Performing” rating in its research notes on Wednesday, February 8th. Atlantic Securities upgraded LyondellBasell Industries’ stock from ‘neutral’ to ‘overweight’ in its research notes on Tuesday, January 31, and set a price target for the company at $110.00. Wells Fargo & Company raised its price target on LyondellBasell Industries stock from $97.00 to $109.00 and gave it an “overweight” rating in its research notes on Monday, February 6. Finally, in a research note on Monday, Feb. 6, Bank of America raised its price target on LyondellBasell Industries stock from $77.00 to $90.00, giving the stock an “underperforming” rating. Three analysts gave the stock a Sell rating, 10 analysts gave a Hold rating, and five analysts assigned a Buy rating to the stock. According to MarketBeat, LyondellBasell Industries currently has an average valuation of “hold” and a consensus target price of $99.11.
Insider activity at LyondellBasell Industries
In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 7th. The shares sold for an average of $98.99 and a total of $989,900.00. Following the closing of the sale, the Executive Vice President now directly owns 47,600 shares of the Company’s stock valued at $4,711,924. The sale was disclosed in his SEC filings available at this hyperlink. His 0.18% of shares are owned by corporate insiders.
LyondellBasell Industries Company Profile
LyondellBasell Industries NV is engaged in the refining and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins – Americas. Olefins and Polyolefins – Europe, Asia and International. intermediates and derivatives; advanced polymer solutions; purification; and technology.
Want to know other hedge funds holding LYB? Visit HoldingsChannel.com to get the latest LyondellBasell Industries (NYSE:LYB – Get Rating) 13F filings and insider trading.
This instant news alert was generated by Narrative Science Technology and MarketBeat financial data to provide our readers with the fastest and most accurate reporting. This article was reviewed by MarketBeat’s editorial team prior to publication. Send any questions or comments about this story to firstname.lastname@example.org.
Listen to this before you even consider LyondellBasell Industries.
MarketBeat tracks Wall Street’s most acclaimed and top performing research analysts and the stocks they recommend to clients every day. MarketBeat has identified five stocks top analysts are quietly whispering to clients to buy now before the broader market catches on…and LyondellBasell Industries wasn’t on the list. .
LyondellBasell Industries currently has a ‘Hold’ rating among analysts, but top-rated analysts believe these five stocks are better buys.
See 5 stocks here