Stablepoint Partners LLC Acquires 3,014 Shares of LyondellBasell Industries N.V. $LYB

Stablepoint Partners LLC raised its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 4.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 67,125 shares of the specialty chemicals company’s stock after buying an additional 3,014 shares during the quarter. Stablepoint Partners LLC’s holdings in LyondellBasell Industries were worth $3,884,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Schroder Investment Management Group boosted its holdings in LyondellBasell Industries by 22.6% in the second quarter. Schroder Investment Management Group now owns 1,018,271 shares of the specialty chemicals company’s stock valued at $58,917,000 after acquiring an additional 187,889 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of LyondellBasell Industries by 96.5% in the 2nd quarter. Mackenzie Financial Corp now owns 128,716 shares of the specialty chemicals company’s stock worth $7,448,000 after purchasing an additional 63,209 shares during the period. Norges Bank bought a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at about $280,000,000. Level Four Advisory Services LLC purchased a new position in shares of LyondellBasell Industries during the second quarter valued at about $305,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in LyondellBasell Industries by 41.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 33,326 shares of the specialty chemicals company’s stock worth $1,928,000 after buying an additional 9,749 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LYB. Rothschild & Co Redburn reduced their target price on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Mizuho set a $52.00 target price on shares of LyondellBasell Industries in a report on Monday, November 3rd. UBS Group decreased their price target on shares of LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating for the company in a research note on Monday, October 6th. The Goldman Sachs Group dropped their price objective on shares of LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating on the stock in a research note on Friday, October 17th. Finally, Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $56.19.

Insiders Place Their Bets

In related news, EVP Kimberly A. Foley bought 5,661 shares of the stock in a transaction on Wednesday, November 12th. The shares were acquired at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the purchase, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

LyondellBasell Industries Stock Up 1.8%

NYSE:LYB opened at $49.31 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The firm has a market cap of $15.87 billion, a P/E ratio of 64.03 and a beta of 0.87. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.46. The firm has a 50-day simple moving average of $46.60 and a two-hundred day simple moving average of $53.77.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.41 billion. During the same quarter in the prior year, the company posted $1.88 earnings per share. The business’s revenue for the quarter was down 10.2% on a year-over-year basis. Analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend is Monday, December 1st. LyondellBasell Industries’s dividend payout ratio is presently -146.13%.

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.