FIL Ltd cut its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,176,216 shares of the specialty chemicals company’s stock after selling 186,289 shares during the quarter. FIL Ltd owned about 0.55% of LyondellBasell Industries NV worth $183,651,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new position in LyondellBasell Industries NV during the first quarter worth about $107,000. TrimTabs Asset Management LLC boosted its position in LyondellBasell Industries NV by 89.1% during the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in LyondellBasell Industries NV during the first quarter worth about $132,000. American Beacon Advisors Inc. acquired a new position in LyondellBasell Industries NV during the first quarter worth about $161,000. Finally, Seven Bridges Advisors LLC boosted its position in LyondellBasell Industries NV by 32.8% during the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after acquiring an additional 478 shares during the last quarter. Hedge funds and other institutional investors own 73.81% of the company’s stock.
Shares of LyondellBasell Industries NV (LYB) traded down 0.33% during trading on Thursday, hitting $95.73. 467,823 shares of the stock traded hands. The firm has a market cap of $37.89 billion, a PE ratio of 10.69 and a beta of 1.04. The company’s 50 day moving average is $90.28 and its 200 day moving average is $86.32. LyondellBasell Industries NV has a 52-week low of $75.76 and a 52-week high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.52 billion. During the same period last year, the company earned $2.56 earnings per share. The company’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities research analysts predict that LyondellBasell Industries NV will post $9.91 EPS for the current year.
LyondellBasell Industries NV announced that its board has initiated a stock buyback program on Wednesday, May 24th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 annualized dividend and a dividend yield of 3.75%. LyondellBasell Industries NV’s dividend payout ratio is presently 40.18%.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by company insiders.
LYB has been the topic of a number of recent research reports. Cowen and Company restated a “hold” rating and set a $90.00 price target on shares of LyondellBasell Industries NV in a research report on Monday, August 28th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $110.00 target price on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. HSBC Holdings plc initiated coverage on shares of LyondellBasell Industries NV in a report on Monday, June 26th. They issued a “buy” rating and a $101.00 target price on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $88.00 target price on shares of LyondellBasell Industries NV in a report on Friday, June 16th. Finally, Zacks Investment Research lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $95.67.
LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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