LyondellBasell Industries NV (LYB) Shares Sold by Korea Investment CORP

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Korea Investment CORP cut its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 17.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 223,340 shares of the specialty chemicals company’s stock after selling 47,800 shares during the quarter. Korea Investment CORP’s holdings in LyondellBasell Industries were worth $24,534,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Dai Ichi Life Insurance Company Ltd increased its holdings in LyondellBasell Industries by 833.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 138,419 shares of the specialty chemicals company’s stock valued at $15,205,000 after purchasing an additional 123,592 shares during the period. Envestnet Asset Management Inc. increased its holdings in LyondellBasell Industries by 195.9% in the second quarter. Envestnet Asset Management Inc. now owns 164,205 shares of the specialty chemicals company’s stock valued at $18,037,000 after purchasing an additional 108,709 shares during the period. Stephens Inc. AR increased its holdings in LyondellBasell Industries by 12.6% in the second quarter. Stephens Inc. AR now owns 53,167 shares of the specialty chemicals company’s stock valued at $5,840,000 after purchasing an additional 5,945 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in LyondellBasell Industries by 22.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,738 shares of the specialty chemicals company’s stock valued at $1,619,000 after purchasing an additional 2,700 shares during the period. Finally, NumerixS Investment Technologies Inc increased its holdings in LyondellBasell Industries by 45.2% in the second quarter. NumerixS Investment Technologies Inc now owns 19,522 shares of the specialty chemicals company’s stock valued at $2,135,000 after purchasing an additional 6,079 shares during the period. Institutional investors own 72.71% of the company’s stock.

A number of analysts have commented on LYB shares. Zacks Investment Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Thursday, August 9th. Citigroup reaffirmed a “buy” rating and set a $122.00 price target on shares of LyondellBasell Industries in a research report on Tuesday, July 10th. Barclays reaffirmed a “buy” rating and set a $135.00 price target on shares of LyondellBasell Industries in a research report on Sunday, May 20th. Jefferies Financial Group raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and upped their price target for the company from $78.01 to $121.95 in a research report on Wednesday, May 16th. Finally, Standpoint Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday, May 21st. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $117.85.

LYB stock opened at $112.24 on Friday. The stock has a market cap of $43.48 billion, a PE ratio of 10.97, a P/E/G ratio of 0.99 and a beta of 1.13. The company has a current ratio of 2.27, a quick ratio of 1.51 and a debt-to-equity ratio of 0.71. LyondellBasell Industries NV has a 1 year low of $90.97 and a 1 year high of $121.95.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.44. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%. The company had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $9.11 billion. sell-side analysts expect that LyondellBasell Industries NV will post 11.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Investors of record on Wednesday, September 5th will be given a $1.00 dividend. The ex-dividend date is Tuesday, September 4th. This represents a $4.00 annualized dividend and a yield of 3.56%. LyondellBasell Industries’s payout ratio is 39.10%.

About LyondellBasell Industries

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

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