SG Americas Securities LLC raised its stake in shares of LyondellBasell Industries (NYSE:LYB – Free Report) by 110.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,230 shares of the specialty chemicals company’s stock after purchasing an additional 10,639 shares during the quarter. SG Americas Securities LLC’s holdings in LyondellBasell Industries were worth $1,858,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Blair William & Co. IL increased its position in LyondellBasell Industries by 1.0% during the 1st quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock valued at $1,112,000 after purchasing an additional 107 shares during the period. Securian Asset Management Inc. grew its position in shares of LyondellBasell Industries by 0.5% in the 1st quarter. Securian Asset Management Inc. now owns 20,945 shares of the specialty chemicals company’s stock worth $1,967,000 after buying an additional 112 shares during the period. Covestor Ltd grew its position in shares of LyondellBasell Industries by 33.9% in the 1st quarter. Covestor Ltd now owns 446 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 113 shares during the period. Hexagon Capital Partners LLC grew its position in shares of LyondellBasell Industries by 2.8% in the 1st quarter. Hexagon Capital Partners LLC now owns 4,368 shares of the specialty chemicals company’s stock worth $410,000 after buying an additional 119 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of LyondellBasell Industries by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,057 shares of the specialty chemicals company’s stock worth $4,043,000 after buying an additional 125 shares during the period. 91.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. KeyCorp upped their target price on shares of LyondellBasell Industries from $80.00 to $85.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 target price on shares of LyondellBasell Industries in a research report on Wednesday, July 19th. Bank of America upped their price target on shares of LyondellBasell Industries from $92.00 to $99.00 in a research note on Monday, August 7th. Barclays dropped their price target on shares of LyondellBasell Industries from $100.00 to $95.00 in a research note on Tuesday, July 11th. Finally, Wells Fargo & Company upped their price target on shares of LyondellBasell Industries from $100.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.06.
Insider Activity
In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total value of $975,600.00. Following the completion of the sale, the executive vice president now directly owns 49,876 shares of the company’s stock, valued at approximately $4,865,902.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Ai Investments Holdings Llc sold 483 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $99.61, for a total value of $48,111.63. Following the completion of the sale, the insider now directly owns 765,996 shares of the company’s stock, valued at approximately $76,300,861.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jeffrey A. Kaplan sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total transaction of $975,600.00. Following the completion of the sale, the executive vice president now directly owns 49,876 shares of the company’s stock, valued at $4,865,902.56. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.
LyondellBasell Industries Price Performance
NYSE LYB opened at $95.48 on Friday. LyondellBasell Industries has a 52 week low of $71.46 and a 52 week high of $102.04. The firm has a market capitalization of $30.95 billion, a P/E ratio of 14.83, a PEG ratio of 2.54 and a beta of 1.21. The company has a quick ratio of 1.07, a current ratio of 1.81 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $97.11 and a 200-day moving average price of $93.06.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its quarterly earnings results on Friday, August 4th. The specialty chemicals company reported $2.44 EPS for the quarter, beating the consensus estimate of $2.30 by $0.14. LyondellBasell Industries had a net margin of 4.92% and a return on equity of 21.31%. The firm had revenue of $10.31 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same quarter in the prior year, the firm earned $5.19 EPS. The business’s revenue for the quarter was down 30.5% compared to the same quarter last year. Equities research analysts anticipate that LyondellBasell Industries will post 8.06 earnings per share for the current year.
LyondellBasell Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Stockholders of record on Monday, August 28th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 5.24%. The ex-dividend date was Friday, August 25th. LyondellBasell Industries’s payout ratio is currently 77.64%.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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