The Manufacturers Life Insurance Company reduced its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 10.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 608,467 shares of the specialty chemicals company’s stock after selling 71,621 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.16% of LyondellBasell Industries worth $64,302,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. Cornerstone Advisors Inc. lifted its position in shares of LyondellBasell Industries by 138.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 984 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 571 shares during the period. Penserra Capital Management LLC purchased a new position in LyondellBasell Industries during the 1st quarter valued at about $109,000. SeaCrest Wealth Management LLC bought a new stake in LyondellBasell Industries during the 4th quarter valued at about $134,000. Institutional & Family Asset Management LLC bought a new stake in LyondellBasell Industries during the 1st quarter valued at about $137,000. Finally, Certified Advisory Corp bought a new stake in LyondellBasell Industries during the 4th quarter valued at about $157,000. Institutional investors own 73.47% of the company’s stock.
A number of brokerages have recently commented on LYB. Cowen reduced their price target on shares of LyondellBasell Industries from $125.00 to $110.00 and set a “market perform” rating for the company in a research note on Monday, May 7th. Jefferies Financial Group raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and lifted their price target for the company from $78.01 to $121.95 in a report on Wednesday, May 16th. Standpoint Research reissued a “hold” rating on shares of LyondellBasell Industries in a report on Friday, June 1st. Barclays reaffirmed a “buy” rating and set a $135.00 price target on shares of LyondellBasell Industries in a research note on Sunday, May 20th. Finally, MED reiterated a “buy” rating and set a $140.00 price objective on shares of LyondellBasell Industries in a research report on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $117.00.
LyondellBasell Industries opened at $109.85 on Friday, Marketbeat reports. LyondellBasell Industries NV has a 1 year low of $82.54 and a 1 year high of $121.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.70 and a current ratio of 2.62. The firm has a market capitalization of $42.87 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.08 and a beta of 1.09.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, April 27th. The specialty chemicals company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.80 by $0.31. The business had revenue of $9.77 billion for the quarter, compared to analyst estimates of $9.43 billion. LyondellBasell Industries had a return on equity of 53.55% and a net margin of 14.83%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 EPS. analysts forecast that LyondellBasell Industries NV will post 11.25 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 18th. Shareholders of record on Monday, June 11th were given a $1.00 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.00 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Friday, June 8th. LyondellBasell Industries’s payout ratio is currently 39.10%.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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