American Financial Group Inc. Has $3,226,000 Position in LyondellBasell Industries (LYB)
American Financial Group Inc. continued to hold its stake in shares of LyondellBasell Industries (NYSE:LYB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,000 shares of the company’s stock at the end of the third quarter. American Financial Group Inc.’s holdings in LyondellBasell Industries were worth $3,226,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in LYB. Credit Capital Investments LLC increased its stake in shares of LyondellBasell Industries by 21,119.3% in the second quarter. Credit Capital Investments LLC now owns 4,212,246 shares of the company’s stock worth $4,212,000 after buying an additional 4,192,395 shares during the period. Bank of Montreal Can purchased a new stake in shares of LyondellBasell Industries during the second quarter worth about $184,074,000. Janus Capital Management LLC increased its stake in shares of LyondellBasell Industries by 7.4% in the second quarter. Janus Capital Management LLC now owns 12,232,383 shares of the company’s stock worth $910,334,000 after buying an additional 844,373 shares during the period. Iridian Asset Management LLC CT increased its stake in shares of LyondellBasell Industries by 23.2% in the second quarter. Iridian Asset Management LLC CT now owns 4,054,132 shares of the company’s stock worth $301,709,000 after buying an additional 762,920 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its stake in shares of LyondellBasell Industries by 6.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,262,230 shares of the company’s stock worth $763,715,000 after buying an additional 630,125 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LyondellBasell Industries (NYSE:LYB) traded down 2.17% during midday trading on Tuesday, hitting $83.72. 4,271,166 shares of the company’s stock were exchanged. LyondellBasell Industries has a one year low of $69.10 and a one year high of $97.20. The stock’s 50-day moving average price is $81.45 and its 200 day moving average price is $79.07. The firm has a market cap of $34.12 billion, a PE ratio of 9.31 and a beta of 1.13.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Tuesday, November 1st. The company reported $2.31 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 analysts’ expectations of $7.48 billion. During the same quarter in the prior year, the firm earned $2.80 earnings per share. LyondellBasell Industries’s quarterly revenue was down 11.6% on a year-over-year basis. Equities research analysts forecast that LyondellBasell Industries will post $9.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Investors of record on Tuesday, November 29th will be given a $0.85 dividend. The ex-dividend date of this dividend is Friday, November 25th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $3.40 annualized dividend and a dividend yield of 4.06%. LyondellBasell Industries’s payout ratio is currently 37.74%.
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LYB has been the topic of a number of recent analyst reports. Deutsche Bank AG increased their price target on shares of LyondellBasell Industries from $80.00 to $83.00 and gave the stock a “hold” rating in a report on Tuesday, September 13th. Susquehanna decreased their price objective on shares of LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a report on Friday, August 26th. Morgan Stanley set a $115.00 price objective on shares of LyondellBasell Industries and gave the company a “buy” rating in a report on Wednesday, September 28th. Vetr downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price objective on the stock. in a report on Monday, August 22nd. Finally, Tudor Pickering started coverage on shares of LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $89.47.
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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