LyondellBasell Industries N.V. $LYB Stock: MGO One Seven LLC Increases Holdings

MGO One Seven LLC raised its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 151.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,925 shares of the specialty chemicals company’s stock after buying an additional 8,390 shares during the quarter. MGO One Seven LLC’s holdings in LyondellBasell Industries were worth $800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock worth $1,542,585,000 after acquiring an additional 4,185,571 shares during the period. State Street Corp boosted its stake in LyondellBasell Industries by 9.1% in the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after purchasing an additional 1,225,833 shares during the period. Assenagon Asset Management S.A. boosted its stake in LyondellBasell Industries by 734.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 884,436 shares of the specialty chemicals company’s stock worth $46,566,000 after purchasing an additional 778,459 shares during the period. Royal Bank of Canada increased its holdings in LyondellBasell Industries by 23.0% during the 1st quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company’s stock worth $284,750,000 after purchasing an additional 660,340 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in LyondellBasell Industries by 46.7% during the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company’s stock worth $124,686,000 after purchasing an additional 492,753 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 1.3%

Shares of NYSE:LYB traded down $0.81 during midday trading on Friday, reaching $60.82. The company had a trading volume of 3,065,436 shares, compared to its average volume of 3,470,195. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94. The stock has a market cap of $19.66 billion, a PE ratio of 15.36, a P/E/G ratio of 0.17 and a beta of 0.29. The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average price is $62.69 and its 200 day moving average price is $63.93.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.03). The company had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company posted $1.01 earnings per share. Research analysts forecast that LyondellBasell Industries N.V. will post 9.08 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.5%. LyondellBasell Industries’s dividend payout ratio is currently 69.70%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on LyondellBasell Industries from $70.00 to $76.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank Of Canada increased their price objective on LyondellBasell Industries from $68.00 to $82.00 and gave the stock an “outperform” rating in a report on Monday, November 2nd. Citigroup lifted their target price on LyondellBasell Industries from $63.00 to $74.00 and gave the company a “neutral” rating in a research report on Tuesday. KeyCorp initiated coverage on LyondellBasell Industries in a research note on Thursday, September 10th. They issued a “sector weight” rating on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $72.00 price target on shares of LyondellBasell Industries in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $73.22.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.