LyondellBasell Industries (LYB) To Go Ex-Dividend on November 25th
LyondellBasell Industries (NYSE:LYB) announced a quarterly dividend on Friday, November 18th. Shareholders of record on Tuesday, November 29th will be paid a dividend of 0.85 per share on Tuesday, December 13th. This represents a $3.40 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Friday, November 25th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78.
Shares of LyondellBasell Industries (NYSE:LYB) opened at 86.64 on Thursday. The firm’s 50-day moving average price is $81.26 and its 200-day moving average price is $79.04. The stock has a market capitalization of $35.31 billion, a P/E ratio of 9.64 and a beta of 1.13. LyondellBasell Industries has a 12 month low of $69.10 and a 12 month high of $97.20.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by $0.01. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.48 billion. LyondellBasell Industries had a return on equity of 64.02% and a net margin of 13.57%. The company’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.80 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries will post $9.46 EPS for the current year.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total transaction of $300,037.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Gideon Capital Advisors Inc. bought a new position in LyondellBasell Industries during the second quarter worth $246,000. Janney Montgomery Scott LLC increased its position in shares of LyondellBasell Industries by 0.9% in the second quarter. Janney Montgomery Scott LLC now owns 8,832 shares of the company’s stock worth $768,000 after buying an additional 79 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in shares of LyondellBasell Industries during the second quarter worth approximately $45,293,000. Public Sector Pension Investment Board increased its position in shares of LyondellBasell Industries by 15.5% in the second quarter. Public Sector Pension Investment Board now owns 64,707 shares of the company’s stock worth $4,815,000 after buying an additional 8,700 shares in the last quarter. Finally, Atlantic Trust Group LLC acquired a new position in shares of LyondellBasell Industries during the second quarter worth approximately $1,244,000. 71.09% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on LYB shares. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Wednesday, October 5th. Susquehanna lowered their target price on shares of LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a research report on Friday, August 26th. RBC Capital Markets restated a “hold” rating and set a $82.00 target price on shares of LyondellBasell Industries in a research report on Tuesday, September 20th. Vetr lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a research report on Monday, August 22nd. Finally, Tudor Pickering started coverage on shares of LyondellBasell Industries in a research report on Thursday, October 13th. They set a “buy” rating and a $95.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $89.47.
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LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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