Lumbard & Kellner LLC reduced its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 29.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,955 shares of the specialty chemicals company’s stock after selling 1,258 shares during the period. Lumbard & Kellner LLC’s holdings in LyondellBasell Industries NV were worth $249,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harbour Capital Advisors LLC bought a new stake in LyondellBasell Industries NV during the 1st quarter worth approximately $107,000. TrimTabs Asset Management LLC increased its holdings in LyondellBasell Industries NV by 89.1% during the 1st quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock worth $124,000 after purchasing an additional 640 shares in the last quarter. Point72 Asia Hong Kong Ltd bought a new stake in LyondellBasell Industries NV during the 1st quarter worth approximately $132,000. American Beacon Advisors Inc. bought a new stake in LyondellBasell Industries NV during the 1st quarter worth approximately $161,000. Finally, Seven Bridges Advisors LLC increased its holdings in LyondellBasell Industries NV by 32.8% during the 2nd quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after purchasing an additional 478 shares in the last quarter. 73.82% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have commented on the company. ValuEngine raised LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Cowen and Company reissued a “hold” rating and set a $90.00 price objective on shares of LyondellBasell Industries NV in a report on Monday, August 28th. UBS AG reaffirmed a “neutral” rating and issued a $88.00 target price (up from $85.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. BidaskClub lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $95.67.

LyondellBasell Industries NV (LYB) traded up 1.80% during trading on Monday, reaching $93.25. The company had a trading volume of 510,075 shares. The firm has a market capitalization of $36.91 billion, a PE ratio of 10.41 and a beta of 1.04. LyondellBasell Industries NV has a 12-month low of $74.02 and a 12-month high of $97.64. The firm’s 50 day moving average price is $88.96 and its 200 day moving average price is $86.19.

LyondellBasell Industries NV (NYSE:LYB) last issued its quarterly earnings data on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. During the same quarter in the previous year, the firm posted $2.56 EPS. The company’s revenue for the quarter was up 14.7% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries NV will post $9.93 EPS for the current year.

LyondellBasell Industries NV announced that its Board of Directors has initiated a share repurchase 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 generally an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date of this dividend is Friday, September 1st. LyondellBasell Industries NV’s payout ratio is 40.18%.

In other news, Director Jagjeet S. Bindra sold 3,224 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

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LyondellBasell Industries NV 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.

Institutional Ownership by Quarter for LyondellBasell Industries NV (NYSE:LYB)

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