Bank of New York Mellon Corp raised its stake in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 4.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,875,668 shares of the specialty chemicals company’s stock after acquiring an additional 111,026 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.88% of LyondellBasell Industries worth $216,481,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in LYB. Alpha Paradigm Partners LLC bought a new position in shares of LyondellBasell Industries during the second quarter valued at $26,000. Chilton Capital Management LLC bought a new position in shares of LyondellBasell Industries in the second quarter valued at about $26,000. Trust Co. of Vermont raised its holdings in shares of LyondellBasell Industries by 1,033.3% in the third quarter. Trust Co. of Vermont now owns 340 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 310 shares during the last quarter. CI Investments Inc. raised its holdings in shares of LyondellBasell Industries by 1,006.5% in the third quarter. CI Investments Inc. now owns 343 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 312 shares during the last quarter. Finally, Ten Capital Wealth Advisors LLC bought a new position in shares of LyondellBasell Industries in the third quarter valued at about $32,000. 91.12% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
LYB has been the subject of a number of research analyst reports. Atlantic Securities raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a report on Tuesday, January 31st. KeyCorp cut their price target on LyondellBasell Industries from $85.00 to $74.00 and set an “underweight” rating for the company in a report on Thursday. Credit Suisse Group raised LyondellBasell Industries from an “underperform” rating to an “outperform” rating and set a $109.00 price target for the company in a report on Monday, February 6th. UBS Group lifted their price objective on LyondellBasell Industries from $81.00 to $91.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 11th. Finally, BMO Capital Markets lifted their price objective on LyondellBasell Industries from $99.00 to $102.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 8th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $98.95.
LyondellBasell Industries Price Performance
LyondellBasell Industries (NYSE:LYB – Get Rating) last released its quarterly earnings data on Friday, February 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.20. LyondellBasell Industries had a return on equity of 32.96% and a net margin of 7.71%. The business had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.73 billion. During the same quarter in the previous year, the business posted $3.63 EPS. LyondellBasell Industries’s revenue for the quarter was down 20.5% on a year-over-year basis. On average, equities analysts anticipate that LyondellBasell Industries will post 9.01 EPS for the current year.
LyondellBasell Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Monday, March 6th were issued a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a dividend yield of 5.60%. The ex-dividend date of this dividend was Friday, March 3rd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 40.34%.
Insider Activity
In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $98.99, for a total transaction of $989,900.00. Following the transaction, the executive vice president now owns 47,600 shares in the company, valued at approximately $4,711,924. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.
About LyondellBasell Industries
LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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