Engineers Gate Manager LP raised its holdings in LyondellBasell Industries N.V. (NYSE:LYB – Free Report) by 158.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 341,172 shares of the specialty chemicals company’s stock after acquiring an additional 209,255 shares during the quarter. Engineers Gate Manager LP’s holdings in LyondellBasell Industries were worth $17,963,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. Marco Investment Management LLC lifted its stake 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 buying an additional 18,700 shares during the period. Tejara Capital Ltd acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at $1,425,000. Russell Investments Group Ltd. raised its stake in LyondellBasell Industries by 130.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company’s stock worth $22,187,000 after acquiring an additional 237,950 shares during the last quarter. Capital World Investors lifted its position in LyondellBasell Industries by 0.4% during the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company’s stock worth $426,242,000 after acquiring an additional 36,187 shares during the period. Finally, Focus Partners Advisor Solutions LLC grew its stake in LyondellBasell Industries by 244.4% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 25,525 shares of the specialty chemicals company’s stock valued at $1,344,000 after purchasing an additional 18,113 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.
LyondellBasell Industries Stock Performance
Shares of NYSE LYB opened at $64.61 on Thursday. The company has a market capitalization of $20.87 billion, a PE ratio of -57.18, a price-to-earnings-growth ratio of 0.18 and a beta of 0.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. The company’s fifty day moving average price is $61.30 and its 200 day moving average price is $65.95. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94.
LyondellBasell Industries Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were issued a $0.69 dividend. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.3%. LyondellBasell Industries’s dividend payout ratio is presently -244.25%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. UBS Group lifted their target price on LyondellBasell Industries from $56.00 to $64.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Wells Fargo & Company raised shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $80.00 to $98.00 in a research report on Thursday, May 28th. Royal Bank Of Canada lifted their price objective on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Alembic Global Advisors dropped their price objective on shares of LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, Weiss Ratings lowered shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $72.56.
Read Our Latest Stock Analysis on LyondellBasell Industries
About LyondellBasell Industries
LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.
The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.
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