Howard Hughes Medical Institute boosted its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,084 shares of the specialty chemicals company’s stock after buying an additional 341 shares during the quarter. Howard Hughes Medical Institute’s holdings in LyondellBasell Industries NV were worth $345,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in LYB. UBS Asset Management Americas Inc. grew its position in LyondellBasell Industries NV by 2.0% during the first quarter. UBS Asset Management Americas Inc. now owns 3,719,506 shares of the specialty chemicals company’s stock valued at $339,182,000 after buying an additional 73,959 shares during the period. Karp Capital Management Corp bought a new stake in LyondellBasell Industries NV during the first quarter valued at approximately $13,772,000. Smith Salley & Associates grew its position in LyondellBasell Industries NV by 1.7% during the first quarter. Smith Salley & Associates now owns 77,297 shares of the specialty chemicals company’s stock valued at $7,048,000 after buying an additional 1,303 shares during the period. TD Asset Management Inc. grew its position in LyondellBasell Industries NV by 19.4% during the first quarter. TD Asset Management Inc. now owns 940,055 shares of the specialty chemicals company’s stock valued at $85,724,000 after buying an additional 152,660 shares during the period. Finally, Flippin Bruce & Porter Inc. grew its position in LyondellBasell Industries NV by 60.2% during the first quarter. Flippin Bruce & Porter Inc. now owns 51,275 shares of the specialty chemicals company’s stock valued at $4,676,000 after buying an additional 19,265 shares during the period. Institutional investors own 73.82% of the company’s stock.
LyondellBasell Industries NV (NYSE:LYB) traded up 0.78% during trading on Friday, hitting $95.17. 7,251,700 shares of the stock traded hands. LyondellBasell Industries NV has a 52-week low of $75.76 and a 52-week high of $97.64. The stock has a market cap of $37.67 billion, a P/E ratio of 10.63 and a beta of 1.04. The stock has a 50 day moving average price of $89.93 and a 200-day moving average price of $86.35.
LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter last year, the company earned $2.56 EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts anticipate that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
LyondellBasell Industries NV announced that its board has initiated a share repurchase plan on Wednesday, May 24th that authorizes the company to repurchase 1,000% of outstanding shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a yield of 3.78%. LyondellBasell Industries NV’s dividend payout ratio is currently 40.18%.
Several analysts recently issued reports on LYB shares. BidaskClub lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cowen and Company reaffirmed a “hold” rating and set a $90.00 price target on shares of LyondellBasell Industries NV in a report on Monday, August 28th. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Zacks Investment Research downgraded shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $92.00 price target on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $95.67.
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In related news, Director Jagjeet S. Bindra sold 3,224 shares of LyondellBasell Industries NV stock in a transaction 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 at this link. 0.09% of the stock is currently owned by company insiders.
About LyondellBasell Industries NV
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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