LyondellBasell Industries NV (LYB) Shares Sold by Fiduciary Trust Co.
Fiduciary Trust Co. lowered its stake in LyondellBasell Industries NV (NYSE:LYB) by 18.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,778 shares of the specialty chemicals company’s stock after selling 6,185 shares during the period. Fiduciary Trust Co.’s holdings in LyondellBasell Industries NV were worth $2,260,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. FMR LLC increased its holdings in shares of LyondellBasell Industries NV by 20.7% in the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after purchasing an additional 4,990,465 shares in the last quarter. BlackRock Inc. increased its holdings in shares of LyondellBasell Industries NV by 2,032.9% in the first quarter. BlackRock Inc. now owns 20,062,376 shares of the specialty chemicals company’s stock valued at $1,829,488,000 after purchasing an additional 19,121,769 shares in the last quarter. South Dakota Investment Council increased its holdings in shares of LyondellBasell Industries NV by 1.7% in the first quarter. South Dakota Investment Council now owns 140,481 shares of the specialty chemicals company’s stock valued at $12,810,000 after purchasing an additional 2,400 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of LyondellBasell Industries NV in the first quarter valued at approximately $458,000. Finally, Palladium Partners LLC increased its holdings in shares of LyondellBasell Industries NV by 1.6% in the first quarter. Palladium Partners LLC now owns 86,883 shares of the specialty chemicals company’s stock valued at $7,923,000 after purchasing an additional 1,369 shares in the last quarter. 73.81% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries NV (NYSE LYB) traded up 1.81% during mid-day trading on Wednesday, reaching $91.01. 349,687 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $88.46 and a 200-day moving average of $86.19. LyondellBasell Industries NV has a 12 month low of $74.02 and a 12 month high of $97.64. The firm has a market cap of $36.02 billion, a price-to-earnings ratio of 10.16 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.14. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.56 earnings per share. Analysts anticipate that LyondellBasell Industries NV will post $9.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, September 1st. LyondellBasell Industries NV’s payout ratio is currently 40.18%.
LyondellBasell Industries NV declared that its board has initiated a stock buyback plan on Wednesday, May 24th that allows the company to buyback 1,000% of shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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A number of brokerages recently weighed in on LYB. UBS AG reissued a “neutral” rating and issued a $85.00 price target (down previously from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. Jefferies Group LLC set a $88.00 price target on shares of LyondellBasell Industries NV and gave the company a “hold” rating in a report on Monday, August 21st. BidaskClub lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Deutsche Bank AG reissued a “buy” rating and issued a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $92.00 price target on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $95.67.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by company insiders.
LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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