HRT Financial LP acquired a new position in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,894 shares of the specialty chemicals company’s stock, valued at approximately $1,485,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of LyondellBasell Industries by 205.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after buying an additional 2,995,335 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of LyondellBasell Industries by 163.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,231,389 shares of the specialty chemicals company’s stock valued at $92,699,000 after buying an additional 764,671 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of LyondellBasell Industries by 139.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,306,806 shares of the specialty chemicals company’s stock valued at $98,377,000 after buying an additional 762,051 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of LyondellBasell Industries by 39.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,576,479 shares of the specialty chemicals company’s stock valued at $213,925,000 after buying an additional 730,986 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of LyondellBasell Industries by 91.7% in the 1st quarter. First Trust Advisors LP now owns 1,227,127 shares of the specialty chemicals company’s stock valued at $126,173,000 after buying an additional 586,864 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on LYB. KeyCorp upped their price target on LyondellBasell Industries from $74.00 to $84.00 and gave the company an “underweight” rating in a research report on Tuesday, April 11th. Barclays upped their price target on LyondellBasell Industries from $98.00 to $100.00 in a research report on Monday, May 1st. Royal Bank of Canada dropped their price objective on LyondellBasell Industries from $130.00 to $121.00 in a research note on Wednesday, May 3rd. Jefferies Financial Group downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and dropped their price objective for the company from $113.00 to $90.00 in a research note on Thursday, April 13th. Finally, Atlantic Securities raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 price objective on the stock in a research note on Tuesday, January 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $99.37.
LyondellBasell Industries Stock Down 1.6 %
LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.70. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.80 billion. LyondellBasell Industries had a return on equity of 28.95% and a net margin of 6.40%. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.00 EPS. On average, research analysts expect that LyondellBasell Industries will post 9.72 earnings per share for the current fiscal year.
LyondellBasell Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 30th will be issued a $1.25 dividend. The ex-dividend date is Friday, May 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.19. This represents a $5.00 annualized dividend and a dividend yield of 5.73%. LyondellBasell Industries’s dividend payout ratio is currently 54.11%.
LyondellBasell Industries Company Profile
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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