Wedbush Securities Inc. purchased a new position in shares of LyondellBasell Industries NV (NYSE:LYB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,883 shares of the specialty chemicals company’s stock, valued at approximately $501,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Sun Life Financial INC boosted its holdings in LyondellBasell Industries by 843.4% during the second quarter. Sun Life Financial INC now owns 1,000 shares of the specialty chemicals company’s stock worth $110,000 after purchasing an additional 894 shares during the last quarter. Reilly Financial Advisors LLC boosted its holdings in LyondellBasell Industries by 504.6% during the third quarter. Reilly Financial Advisors LLC now owns 1,318 shares of the specialty chemicals company’s stock worth $135,000 after purchasing an additional 1,100 shares during the last quarter. CI Investments Inc. purchased a new position in LyondellBasell Industries during the third quarter worth about $154,000. grace capital purchased a new position in LyondellBasell Industries during the second quarter worth about $165,000. Finally, Rational Advisors LLC boosted its holdings in LyondellBasell Industries by 769.5% during the second quarter. Rational Advisors LLC now owns 1,626 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 1,439 shares during the last quarter. Institutional investors and hedge funds own 73.24% of the company’s stock.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc purchased 1,602,455 shares of the stock in a transaction dated Thursday, November 8th. The shares were bought at an average price of $95.65 per share, with a total value of $153,274,820.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction dated Thursday, December 6th. The stock was acquired at an average cost of $88.63 per share, for a total transaction of $443,150.00. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 4,401,236 shares of company stock worth $418,531,263. Corporate insiders own 0.09% of the company’s stock.
LYB opened at $84.37 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.09 and a current ratio of 1.82. The stock has a market capitalization of $33.85 billion, a price-to-earnings ratio of 8.25, a P/E/G ratio of 0.79 and a beta of 1.24. LyondellBasell Industries NV has a twelve month low of $84.17 and a twelve month high of $121.95.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.28. The firm had revenue of $10.16 billion for the quarter, compared to analysts’ expectations of $9.95 billion. LyondellBasell Industries had a net margin of 15.01% and a return on equity of 47.35%. The company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.67 earnings per share. As a group, research analysts anticipate that LyondellBasell Industries NV will post 11.81 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 10th will be paid a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 4.74%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, December 7th. LyondellBasell Industries’s payout ratio is presently 39.10%.
LYB has been the topic of several analyst reports. Zacks Investment Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Cowen cut their price target on shares of LyondellBasell Industries from $113.00 to $103.00 and set a “market perform” rating on the stock in a report on Friday, September 7th. Jefferies Financial Group restated a “buy” rating on shares of LyondellBasell Industries in a report on Thursday, November 15th. JPMorgan Chase & Co. cut shares of LyondellBasell Industries from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $110.00 to $95.00 in a report on Wednesday, September 19th. Finally, Alembic Global Advisors set a $120.00 target price on shares of LyondellBasell Industries and gave the company a “buy” rating in a research note on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $116.88.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
Further Reading: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries NV (NYSE:LYB).
Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.