Scopus Asset Management L.P. Makes New $4.68 Million Investment in LyondellBasell Industries (NYSE:LYB)

Scopus Asset Management L.P. acquired a new position in shares of LyondellBasell Industries (NYSE:LYB) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 45,000 shares of the specialty chemicals company’s stock, valued at approximately $4,682,000.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp bought a new stake in shares of LyondellBasell Industries in the 1st quarter valued at approximately $1,804,000. Royal Bank of Canada increased its holdings in shares of LyondellBasell Industries by 6.6% in the 1st quarter. Royal Bank of Canada now owns 582,421 shares of the specialty chemicals company’s stock valued at $60,601,000 after acquiring an additional 35,941 shares during the last quarter. Cambria Investment Management L.P. increased its holdings in shares of LyondellBasell Industries by 231.8% in the 1st quarter. Cambria Investment Management L.P. now owns 24,795 shares of the specialty chemicals company’s stock valued at $2,580,000 after acquiring an additional 17,321 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of LyondellBasell Industries by 1.3% in the 1st quarter. Bank of Nova Scotia now owns 7,929 shares of the specialty chemicals company’s stock valued at $825,000 after acquiring an additional 104 shares during the last quarter. Finally, MidWestOne Financial Group Inc. bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at approximately $360,000. Institutional investors own 68.48% of the company’s stock.

In other news, CEO Bhavesh V. Patel sold 1,406 shares of the company’s stock in a transaction on Thursday, June 3rd. The stock was sold at an average price of $118.00, for a total transaction of $165,908.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James D. Guilfoyle sold 610 shares of the company’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $110.16, for a total value of $67,197.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,210 shares of company stock valued at $254,077. Insiders own 0.18% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on LyondellBasell Industries in a report on Wednesday, June 9th. They issued a “market perform” rating for the company. JPMorgan Chase & Co. upped their price objective on LyondellBasell Industries from $120.00 to $142.00 and gave the stock an “overweight” rating in a research note on Thursday, June 3rd. Wells Fargo & Company upped their price objective on LyondellBasell Industries from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, June 17th. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective for the company in a research note on Friday, July 2nd. Finally, Bank of America downgraded LyondellBasell Industries from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $117.00 to $114.00 in a research note on Friday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $99.82.

Shares of LyondellBasell Industries stock traded down $1.55 during trading on Thursday, hitting $95.53. The stock had a trading volume of 37,853 shares, compared to its average volume of 1,805,987. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.74. The stock has a market capitalization of $31.94 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.66 and a beta of 1.53. The firm’s fifty day simple moving average is $106.57. LyondellBasell Industries has a fifty-two week low of $61.52 and a fifty-two week high of $118.01.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 30th. The specialty chemicals company reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.59 by $0.59. The business had revenue of $9.08 billion during the quarter, compared to analyst estimates of $9.08 billion. LyondellBasell Industries had a return on equity of 31.39% and a net margin of 8.02%. The company’s revenue was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.51 earnings per share. On average, analysts predict that LyondellBasell Industries will post 17.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 14th. Stockholders of record on Monday, June 7th were issued a $1.13 dividend. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, June 4th. This represents a $4.52 annualized dividend and a dividend yield of 4.73%. LyondellBasell Industries’s dividend payout ratio is 80.57%.

LyondellBasell Industries Company 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 PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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