Virtus ETF Advisers LLC lifted its holdings in LyondellBasell Industries NV (NYSE:LYB) by 14,395.6% during the second quarter, Holdings Channel reports. The fund owned 29,571 shares of the specialty chemicals company’s stock after buying an additional 29,367 shares during the quarter. Virtus ETF Advisers LLC’s holdings in LyondellBasell Industries were worth $2,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new stake in LyondellBasell Industries during the second quarter valued at $25,000. MUFG Americas Holdings Corp grew its position in LyondellBasell Industries by 80.8% during the second quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after buying an additional 147 shares during the period. Icon Wealth Partners LLC acquired a new stake in LyondellBasell Industries during the first quarter valued at $35,000. Reilly Financial Advisors LLC grew its position in LyondellBasell Industries by 89.4% during the second quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 195 shares during the period. Finally, Enterprise Financial Services Corp grew its position in LyondellBasell Industries by 47.1% during the second quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 76.23% of the company’s stock.
Shares of NYSE LYB traded up $2.76 during trading on Friday, hitting $86.54. The company had a trading volume of 213,760 shares, compared to its average volume of 2,702,798. The stock has a fifty day simple moving average of $76.95 and a two-hundred day simple moving average of $83.46. LyondellBasell Industries NV has a fifty-two week low of $68.61 and a fifty-two week high of $107.49. The firm has a market capitalization of $28.25 billion, a price-to-earnings ratio of 7.68, a price-to-earnings-growth ratio of 0.92 and a beta of 1.31. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.83.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.09). LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. The company had revenue of $9.05 billion during the quarter, compared to analyst estimates of $9.26 billion. On average, analysts anticipate that LyondellBasell Industries NV will post 10.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, September 4th were given a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.20 annualized dividend and a dividend yield of 4.85%. LyondellBasell Industries’s dividend payout ratio (DPR) is 37.27%.
LYB has been the topic of several analyst reports. Citigroup initiated coverage on shares of LyondellBasell Industries in a research report on Friday, July 12th. They set a “neutral” rating and a $92.00 price target on the stock. Zacks Investment Research lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 price target on the stock. in a research report on Tuesday, August 13th. UBS Group raised their price target on shares of LyondellBasell Industries from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Jefferies Financial Group raised their price target on shares of LyondellBasell Industries from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Deutsche Bank lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and dropped their price target for the company from $100.00 to $94.00 in a research report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $102.18.
In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc purchased 764,501 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $74.61 per share, with a total value of $57,039,419.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jagjeet S. Bindra purchased 1,360 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $73.48 per share, for a total transaction of $99,932.80. The disclosure for this purchase can be found here. In the last quarter, insiders bought 773,107 shares of company stock worth $57,638,240. Company insiders own 0.14% of the company’s stock.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.
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