TD Asset Management Inc. Cuts Stake in LyondellBasell Industries (LYB)
TD Asset Management Inc. decreased its position in LyondellBasell Industries (NYSE:LYB) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 475,003 shares of the company’s stock after selling 4,078 shares during the period. TD Asset Management Inc. owned 0.11% of LyondellBasell Industries worth $38,314,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Alps Advisors Inc. raised its stake in shares of LyondellBasell Industries by 24.2% in the third quarter. Alps Advisors Inc. now owns 407,020 shares of the company’s stock worth $32,830,000 after buying an additional 79,230 shares during the last quarter. State Treasurer State of Michigan raised its stake in shares of LyondellBasell Industries by 0.3% in the third quarter. State Treasurer State of Michigan now owns 118,932 shares of the company’s stock worth $9,593,000 after buying an additional 300 shares during the last quarter. Advisor Partners LLC raised its stake in shares of LyondellBasell Industries by 11.5% in the third quarter. Advisor Partners LLC now owns 3,838 shares of the company’s stock worth $310,000 after buying an additional 395 shares during the last quarter. Osborne Partners Capital Management LLC raised its stake in shares of LyondellBasell Industries by 5.6% in the third quarter. Osborne Partners Capital Management LLC now owns 72,737 shares of the company’s stock worth $5,867,000 after buying an additional 3,830 shares during the last quarter. Finally, Balasa Dinverno & Foltz LLC raised its stake in shares of LyondellBasell Industries by 10.7% in the third quarter. Balasa Dinverno & Foltz LLC now owns 4,016 shares of the company’s stock worth $324,000 after buying an additional 389 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) last announced 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. LyondellBasell Industries had a return on equity of 64.02% and a net margin of 13.57%. The business earned $7.37 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter last year, the company earned $2.80 earnings per share. The firm’s revenue was down 11.6% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Tuesday, November 29th will be issued a $0.85 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $3.40 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, November 25th. LyondellBasell Industries’s dividend payout ratio is 37.74%.
Several equities research analysts have recently issued reports on LYB shares. Zacks Investment Research lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Tudor Pickering started coverage on LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 price target for the company. Morgan Stanley set a $115.00 price target on LyondellBasell Industries and gave the company a “buy” rating in a report on Wednesday, September 28th. Jefferies Group lifted their price target on LyondellBasell Industries from $84.00 to $88.00 and gave the company a “hold” rating in a report on Thursday, September 22nd. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $82.00 price target on shares of LyondellBasell Industries in a research report on Tuesday, September 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $89.47.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.
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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