Ameriprise Financial Inc. grew its position in LyondellBasell Industries NV (NYSE:LYB) by 19.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,591,551 shares of the specialty chemicals company’s stock after purchasing an additional 1,069,625 shares during the period. Ameriprise Financial Inc. owned approximately 1.67% of LyondellBasell Industries NV worth $652,840,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LYB. Seven Bridges Advisors LLC grew its position in LyondellBasell Industries NV by 32.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after purchasing an additional 478 shares during the last quarter. WESPAC Advisors SoCal LLC grew its position in LyondellBasell Industries NV by 4.9% in the 2nd quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 100 shares during the last quarter. WFG Advisors LP grew its position in LyondellBasell Industries NV by 66.4% in the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock worth $187,000 after purchasing an additional 883 shares during the last quarter. HighVista Strategies LLC bought a new position in LyondellBasell Industries NV in the 2nd quarter worth about $203,000. Finally, Vicus Capital bought a new position in LyondellBasell Industries NV in the 3rd quarter worth about $203,000. Hedge funds and other institutional investors own 74.91% of the company’s stock.
Several research analysts have recently issued reports on LYB shares. BidaskClub cut shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC set a $88.00 price objective on shares of LyondellBasell Industries NV and gave the company a “hold” rating in a report on Monday, August 21st. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $96.00 price objective (up from $90.00) on shares of LyondellBasell Industries NV in a report on Saturday, September 30th. UBS AG reiterated a “neutral” rating and issued a $88.00 price objective (up from $85.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Finally, Cowen and Company increased their price objective on shares of LyondellBasell Industries NV from $90.00 to $95.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. LyondellBasell Industries NV currently has an average rating of “Hold” and a consensus target price of $99.56.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 1,574 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is owned by corporate insiders.
Shares of LyondellBasell Industries NV (NYSE:LYB) traded down $0.34 during trading hours on Tuesday, hitting $103.93. 334,471 shares of the company traded hands, compared to its average volume of 2,598,707. LyondellBasell Industries NV has a fifty-two week low of $78.01 and a fifty-two week high of $107.83. The company has a current ratio of 2.40, a quick ratio of 1.49 and a debt-to-equity ratio of 1.16. The stock has a market cap of $41,130.00, a P/E ratio of 10.74, a PEG ratio of 1.16 and a beta of 1.08.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, December 5th will be given a $0.90 dividend. The ex-dividend date of this dividend is Monday, December 4th. This represents a $3.60 dividend on an annualized basis and a yield of 3.46%. LyondellBasell Industries NV’s payout ratio is 38.38%.
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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