State Street Corp cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 3.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,025,364 shares of the specialty chemicals company’s stock after selling 423,127 shares during the quarter. State Street Corp owned approximately 3.60% of LyondellBasell Industries worth $847,668,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. CX Institutional raised its holdings in shares of LyondellBasell Industries by 71.4% in the 3rd quarter. CX Institutional now owns 372 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 155 shares during the period. Gradient Investments LLC bought a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $35,000. CNB Bank raised its holdings in shares of LyondellBasell Industries by 33.5% in the 3rd quarter. CNB Bank now owns 582 shares of the specialty chemicals company’s stock valued at $41,000 after purchasing an additional 146 shares during the period. RMR Wealth Builders acquired a new position in LyondellBasell Industries in the 2nd quarter valued at about $43,000. Finally, Price Wealth LLC grew its stake in LyondellBasell Industries by 601.1% in the 3rd quarter. Price Wealth LLC now owns 659 shares of the specialty chemicals company’s stock valued at $46,000 after buying an additional 565 shares during the last quarter. 66.81% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently commented on LYB. Morgan Stanley upped their price target on shares of LyondellBasell Industries from $70.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, September 30th. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “sell” rating to a “hold” rating and set a $84.00 price target on the stock in a research note on Tuesday, November 10th. BMO Capital Markets upped their price target on shares of LyondellBasell Industries from $66.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. UBS Group upped their price target on shares of LyondellBasell Industries from $68.00 to $74.00 and gave the company a “neutral” rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $62.00 to $88.00 in a research report on Friday, September 11th. Eighteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $74.32.
NYSE LYB opened at $81.65 on Friday. The firm has a market capitalization of $27.26 billion, a price-to-earnings ratio of 23.20, a P/E/G ratio of 1.84 and a beta of 1.46. The company has a current ratio of 2.25, a quick ratio of 1.41 and a debt-to-equity ratio of 1.88. The firm’s 50 day simple moving average is $75.67 and its 200 day simple moving average is $69.04. LyondellBasell Industries has a 1 year low of $33.71 and a 1 year high of $95.82.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $1.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.14. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.58 billion. LyondellBasell Industries had a net margin of 4.23% and a return on equity of 24.09%. The firm’s revenue was down 22.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.85 EPS. On average, equities research analysts forecast that LyondellBasell Industries will post 4.74 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Monday, November 30th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Friday, November 27th. LyondellBasell Industries’s payout ratio is 43.66%.
In related news, Director Jagjeet S. Bindra sold 1,878 shares of the stock in a transaction that occurred on Wednesday, November 18th. The shares were sold at an average price of $83.21, for a total value of $156,268.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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