Martingale Asset Management L P Acquires 22,057 Shares of LyondellBasell Industries (NYSE:LYB)

Martingale Asset Management L P boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 93.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 45,718 shares of the specialty chemicals company’s stock after purchasing an additional 22,057 shares during the quarter. Martingale Asset Management L P’s holdings in LyondellBasell Industries were worth $4,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LYB. Public Sector Pension Investment Board raised its holdings in LyondellBasell Industries by 19.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 11,279 shares of the specialty chemicals company’s stock valued at $1,082,000 after acquiring an additional 1,800 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in LyondellBasell Industries by 0.7% in the 3rd quarter. Providence Capital Advisors LLC now owns 35,742 shares of the specialty chemicals company’s stock valued at $3,428,000 after acquiring an additional 234 shares in the last quarter. CreativeOne Wealth LLC raised its holdings in LyondellBasell Industries by 39.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 15,562 shares of the specialty chemicals company’s stock valued at $1,492,000 after acquiring an additional 4,421 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in LyondellBasell Industries by 3.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,628 shares of the specialty chemicals company’s stock valued at $1,115,000 after acquiring an additional 423 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in LyondellBasell Industries in the 3rd quarter valued at approximately $2,491,000. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

LYB has been the subject of several recent research reports. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft cut their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Piper Sandler dropped their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Up 0.3 %

NYSE LYB opened at $83.32 on Friday. The firm has a market cap of $27.06 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.32 and a beta of 1.08. LyondellBasell Industries has a one year low of $81.45 and a one year high of $107.02. The stock’s 50 day simple moving average is $88.88 and its 200 day simple moving average is $93.72. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company earned $2.46 earnings per share. As a group, sell-side analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a $1.34 dividend. The ex-dividend date is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.43%. LyondellBasell Industries’s payout ratio is 81.58%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.