LyondellBasell Industries (LYB) Position Lowered by Swiss National Bank
Swiss National Bank lowered its stake in LyondellBasell Industries (NYSE:LYB) by 2.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,008,474 shares of the company’s stock after selling 21,300 shares during the period. Swiss National Bank owned about 0.25% of LyondellBasell Industries worth $81,344,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Wedbush Securities Inc. boosted its stake in shares of LyondellBasell Industries by 10.2% in the third quarter. Wedbush Securities Inc. now owns 9,029 shares of the company’s stock valued at $728,000 after buying an additional 838 shares during the last quarter. Visionary Asset Management Inc. boosted its stake in shares of LyondellBasell Industries by 4.4% in the third quarter. Visionary Asset Management Inc. now owns 32,340 shares of the company’s stock valued at $2,609,000 after buying an additional 1,353 shares during the last quarter. Assetmark Inc. boosted its stake in shares of LyondellBasell Industries by 40.4% in the third quarter. Assetmark Inc. now owns 2,664 shares of the company’s stock valued at $215,000 after buying an additional 767 shares during the last quarter. Icon Advisers Inc. Co. purchased a new stake in shares of LyondellBasell Industries during the third quarter valued at approximately $1,613,000. Finally, US Bancorp DE boosted its stake in shares of LyondellBasell Industries by 14.3% in the third quarter. US Bancorp DE now owns 429,205 shares of the company’s stock valued at $34,620,000 after buying an additional 53,850 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.
LyondellBasell Industries (NYSE:LYB) opened at 85.58 on Tuesday. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $97.20. The stock has a market capitalization of $34.88 billion, a PE ratio of 9.52 and a beta of 1.13. The stock’s 50 day moving average is $81.45 and its 200 day moving average is $79.07.
LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Tuesday, November 1st. The company reported $2.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.32 by $0.01. The firm earned $7.37 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $2.80 earnings per share. Analysts forecast that LyondellBasell Industries will post $9.46 EPS for the current year.
The company also recently announced 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. 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 yield of 3.97%. LyondellBasell Industries’s dividend payout ratio (DPR) is 37.74%.
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Several brokerages recently commented on LYB. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, November 4th. Tudor Pickering began coverage on LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 target price on the stock. Morgan Stanley set a $115.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a report on Wednesday, September 28th. Jefferies Group boosted their target price on LyondellBasell Industries from $84.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, September 22nd. Finally, RBC Capital Markets reissued a “hold” rating and set a $82.00 target price on shares of LyondellBasell Industries in a report on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus 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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