LyondellBasell Industries NV (LYB) Shares Sold by Hennessy Advisors Inc.
Hennessy Advisors Inc. lessened its holdings in LyondellBasell Industries NV (NYSE:LYB) by 3.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,400 shares of the specialty chemicals company’s stock after selling 2,000 shares during the quarter. Hennessy Advisors Inc.’s holdings in LyondellBasell Industries NV were worth $4,760,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Biltmore Wealth Management LLC grew its position in LyondellBasell Industries NV by 0.4% in the 1st quarter. Biltmore Wealth Management LLC now owns 8,405 shares of the specialty chemicals company’s stock valued at $766,000 after acquiring an additional 30 shares during the last quarter. First Heartland Consultants Inc. grew its position in LyondellBasell Industries NV by 1.9% in the 1st quarter. First Heartland Consultants Inc. now owns 2,500 shares of the specialty chemicals company’s stock valued at $228,000 after acquiring an additional 47 shares during the last quarter. Glenview Trust Co grew its position in LyondellBasell Industries NV by 0.5% in the 1st quarter. Glenview Trust Co now owns 14,001 shares of the specialty chemicals company’s stock valued at $1,277,000 after acquiring an additional 75 shares during the last quarter. CAPROCK Group Inc. grew its position in LyondellBasell Industries NV by 1.0% in the 2nd quarter. CAPROCK Group Inc. now owns 8,338 shares of the specialty chemicals company’s stock valued at $704,000 after acquiring an additional 79 shares during the last quarter. Finally, Nippon Life Insurance Co. grew its position in LyondellBasell Industries NV by 0.6% in the 2nd quarter. Nippon Life Insurance Co. now owns 16,069 shares of the specialty chemicals company’s stock valued at $1,356,000 after acquiring an additional 88 shares during the last quarter. 73.81% of the stock is currently owned by institutional investors.
Several brokerages have commented on LYB. UBS AG reaffirmed a “neutral” rating and issued a $85.00 price objective (down previously from $94.00) on shares of LyondellBasell Industries NV in a research report on Sunday, June 25th. BidaskClub downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC set a $88.00 price target on LyondellBasell Industries NV and gave the stock a “hold” rating in a research report on Monday, August 21st. ValuEngine raised LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Deutsche Bank AG reissued a “buy” rating and set a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. LyondellBasell Industries NV presently has an average rating of “Hold” and a consensus target price of $95.67.
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In related news, Director Jagjeet S. Bindra sold 3,224 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.
Shares of LyondellBasell Industries NV (NYSE LYB) traded down 0.13% during midday trading on Friday, hitting $91.60. The company had a trading volume of 1,746,982 shares. The company has a 50-day moving average of $88.90 and a 200 day moving average of $86.30. LyondellBasell Industries NV has a 12 month low of $74.02 and a 12 month high of $97.64. The firm has a market capitalization of $36.26 billion, a PE ratio of 10.23 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same period in the previous year, the firm posted $2.56 EPS. LyondellBasell Industries NV’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries NV will post $9.93 EPS for the current fiscal year.
LyondellBasell Industries NV declared that its board has approved a stock buyback program on Wednesday, May 24th that authorizes the company to buyback 1,000% of shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, September 1st. This represents a $3.60 annualized dividend and a yield of 3.93%. LyondellBasell Industries NV’s payout ratio is 40.18%.
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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