Rakuten Investment Management Inc. purchased a new stake in LyondellBasell Industries N.V. (NYSE:LYB – Free Report) in the third quarter, HoldingsChannel reports. The firm purchased 46,372 shares of the specialty chemicals company’s stock, valued at approximately $2,698,000.
Several other institutional investors have also recently bought and sold shares of LYB. Farther Finance Advisors LLC boosted its position in LyondellBasell Industries by 149.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 28,109 shares of the specialty chemicals company’s stock valued at $1,615,000 after buying an additional 16,827 shares during the last quarter. Marco Investment Management LLC raised its position in shares of LyondellBasell Industries by 10.9% during the second quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company’s stock worth $10,041,000 after acquiring an additional 18,700 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of LyondellBasell Industries by 5.2% during the second quarter. Envestnet Asset Management Inc. now owns 487,459 shares of the specialty chemicals company’s stock valued at $25,665,000 after acquiring an additional 24,060 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of LyondellBasell Industries by 130.1% during the second quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company’s stock valued at $22,187,000 after acquiring an additional 237,950 shares during the period. Finally, State Street Corp boosted its holdings in LyondellBasell Industries by 9.1% in the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock valued at $775,795,000 after acquiring an additional 1,225,833 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.
LyondellBasell Industries Stock Down 1.3%
NYSE:LYB opened at $60.82 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.99. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $83.94. The stock’s fifty day simple moving average is $62.69 and its 200-day simple moving average is $63.93. The firm has a market capitalization of $19.66 billion, a P/E ratio of 15.36, a P/E/G ratio of 0.16 and a beta of 0.29.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The company had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.87 billion. During the same quarter in the prior year, the company posted $1.01 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts expect that LyondellBasell Industries N.V. will post 9.08 earnings per share for the current year.
LyondellBasell Industries Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s payout ratio is presently 69.70%.
Analysts Set New Price Targets
LYB has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Morgan Stanley cut their target price on shares of LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Weiss Ratings upgraded shares of LyondellBasell Industries from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, November 2nd. Royal Bank Of Canada raised their target price on shares of LyondellBasell Industries from $68.00 to $82.00 and gave the company an “outperform” rating in a research note on Monday, November 2nd. Finally, Wells Fargo & Company lifted their price target on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $73.22.
Get Our Latest Research Report on LYB
About LyondellBasell Industries
LyondellBasell Industries (NYSE: LYB) is a global chemicals and plastics company that makes materials and products used by manufacturers in a range of industries. Its businesses span the production of olefins, such as ethylene and propylene, and polyolefins, including polyethylene and polypropylene.
The company also produces intermediates and derivatives, develops advanced polymer compounds, and provides chemical-process technology and related services. Its products are used in applications including packaging, transportation, construction, consumer goods and healthcare.
Formed in 2007 through the merger of Lyondell Chemical Company and Basell, LyondellBasell serves customers around the world through manufacturing and commercial operations across multiple regions.
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