Focused Wealth Management Inc boosted its stake in LyondellBasell Industries NV (NYSE:LYB) by 31.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the specialty chemicals company’s stock after buying an additional 600 shares during the period. Focused Wealth Management Inc’s holdings in LyondellBasell Industries NV were worth $228,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC raised its stake in LyondellBasell Industries NV by 1.4% in the fourth quarter. Perigon Wealth Management LLC now owns 45,050 shares of the specialty chemicals company’s stock worth $4,155,000 after buying an additional 610 shares during the period. Oliver Luxxe Assets LLC increased its position in shares of LyondellBasell Industries NV by 3.8% in the first quarter. Oliver Luxxe Assets LLC now owns 8,171 shares of the specialty chemicals company’s stock worth $745,000 after buying an additional 297 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of LyondellBasell Industries NV during the first quarter worth approximately $1,746,000. State Board of Administration of Florida Retirement System increased its position in shares of LyondellBasell Industries NV by 0.4% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 515,985 shares of the specialty chemicals company’s stock worth $44,261,000 after buying an additional 2,157 shares in the last quarter. Finally, Adviser Investments LLC purchased a new position in LyondellBasell Industries NV during the first quarter worth about $3,389,000. 74.19% of the stock is owned by hedge funds and other institutional investors.
LyondellBasell Industries NV (LYB) traded down 1.24% during mid-day trading on Tuesday, reaching $80.29. The company’s stock had a trading volume of 967,909 shares. LyondellBasell Industries NV has a 12-month low of $69.82 and a 12-month high of $97.64. The company has a market cap of $32.34 billion, a PE ratio of 9.19 and a beta of 1.04. The firm’s 50 day moving average is $81.20 and its 200-day moving average is $87.64.
LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, April 28th. The specialty chemicals company reported $2.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by $0.36. LyondellBasell Industries NV had a net margin of 9.55% and a return on equity of 51.56%. The company had revenue of $8.43 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same period in the previous year, the company posted $2.48 EPS. LyondellBasell Industries NV’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts anticipate that LyondellBasell Industries NV will post $9.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Monday, June 5th were paid a $0.90 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $3.60 dividend on an annualized basis and a yield of 4.43%. This is a positive change from LyondellBasell Industries NV’s previous quarterly dividend of $0.85. LyondellBasell Industries NV’s dividend payout ratio is presently 41.33%.
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A number of research firms have issued reports on LYB. Jefferies Group LLC reiterated a “hold” rating and issued a $88.00 price objective on shares of LyondellBasell Industries NV in a report on Friday. Instinet reduced their price target on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, May 1st. Citigroup Inc. restated an “overweight” rating on shares of LyondellBasell Industries NV in a report on Friday, April 14th. Vertical Research upgraded LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Tuesday, May 9th. Finally, Bank of America Corporation cut LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $98.00 to $70.00 in a research report on Monday, May 8th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $91.00.
LyondellBasell Industries NV Company 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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