Pinebridge Investments L.P. grew its position in LyondellBasell Industries NV (NYSE:LYB) by 15.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 191,395 shares of the specialty chemicals company’s stock after acquiring an additional 25,035 shares during the quarter. Pinebridge Investments L.P.’s holdings in LyondellBasell Industries NV were worth $16,152,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of LYB. BlackRock Inc. increased its holdings in shares of LyondellBasell Industries NV by 2,032.9% in the 1st quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock valued at $1,829,488,000 after acquiring an additional 19,121,769 shares during the last quarter. FMR LLC increased its holdings in shares of LyondellBasell Industries NV by 20.7% in the 1st quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after acquiring an additional 4,990,465 shares during the last quarter. Beutel Goodman & Co Ltd. bought a new stake in shares of LyondellBasell Industries NV in the 2nd quarter valued at approximately $102,907,000. Schroder Investment Management Group increased its holdings in shares of LyondellBasell Industries NV by 31.8% in the 1st quarter. Schroder Investment Management Group now owns 3,082,478 shares of the specialty chemicals company’s stock valued at $281,337,000 after acquiring an additional 743,569 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of LyondellBasell Industries NV by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 24,056,326 shares of the specialty chemicals company’s stock valued at $2,193,697,000 after acquiring an additional 587,985 shares during the last quarter. Institutional investors and hedge funds own 73.81% of the company’s stock.
LyondellBasell Industries NV (NYSE LYB) traded up 0.94% on Tuesday, hitting $96.48. The stock had a trading volume of 645,894 shares. The firm’s 50-day moving average price is $90.10 and its 200-day moving average price is $86.28. The firm has a market cap of $38.19 billion, a P/E ratio of 10.77 and a beta of 1.04. LyondellBasell Industries NV has a 1-year low of $75.76 and a 1-year high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The business had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. During the same quarter last year, the company earned $2.56 EPS. LyondellBasell Industries NV’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts predict that LyondellBasell Industries NV will post $9.89 earnings per share for the current year.
LyondellBasell Industries NV announced that its board has authorized a share buyback plan on Wednesday, May 24th that allows the company to buyback 1,000% of shares. This buyback authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were issued a dividend of $0.90 per share. 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 3.77%. LyondellBasell Industries NV’s dividend payout ratio is 40.18%.
A number of equities research analysts have recently weighed in on the company. UBS AG reiterated a “neutral” rating and issued a $85.00 price target (down from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. ValuEngine upgraded LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. BidaskClub upgraded LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $110.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, June 28th. Finally, HSBC Holdings plc assumed coverage on LyondellBasell Industries NV in a report on Monday, June 26th. They issued a “buy” rating and a $101.00 price target for the company. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $95.67.
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In related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.
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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