LyondellBasell Industries N.V. $LYB Shares Purchased by Swiss National Bank

Swiss National Bank raised its position in LyondellBasell Industries N.V. (NYSE:LYB) by 6.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 782,100 shares of the specialty chemicals company’s stock after acquiring an additional 49,400 shares during the quarter. Swiss National Bank’s holdings in LyondellBasell Industries were worth $45,252,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock valued at $650,465,000 after acquiring an additional 657,443 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of LyondellBasell Industries by 0.4% during the second quarter. Geode Capital Management LLC now owns 6,824,462 shares of the specialty chemicals company’s stock valued at $395,486,000 after purchasing an additional 24,161 shares in the last quarter. Invesco Ltd. lifted its holdings in LyondellBasell Industries by 10.4% in the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock worth $452,852,000 after purchasing an additional 606,234 shares during the period. Federated Hermes Inc. grew its position in LyondellBasell Industries by 12.7% in the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company’s stock valued at $333,994,000 after buying an additional 534,456 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in LyondellBasell Industries by 12.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company’s stock valued at $316,113,000 after buying an additional 509,996 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LyondellBasell Industries

In related news, EVP Kimberly A. Foley acquired 5,661 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were purchased at an average cost of $43.56 per share, with a total value of $246,593.16. Following the completion of the transaction, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

LyondellBasell Industries Price Performance

LYB opened at $45.43 on Tuesday. The firm has a market capitalization of $14.62 billion, a P/E ratio of 59.00 and a beta of 0.87. The stock has a fifty day moving average of $46.95 and a 200-day moving average of $53.99. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $85.25.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.LyondellBasell Industries’s revenue for the quarter was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.88 earnings per share. Equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be issued a $1.37 dividend. The ex-dividend date is Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a dividend yield of 12.1%. LyondellBasell Industries’s dividend payout ratio is currently -146.13%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Alembic Global Advisors raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, October 20th. Bank of America dropped their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. UBS Group cut their target price on shares of LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating for the company in a research note on Monday, October 6th. BMO Capital Markets dropped their price target on LyondellBasell Industries from $58.00 to $48.00 and set a “market perform” rating on the stock in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group reduced their price objective on LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.19.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.