Wells Fargo & Company MN reduced its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 19.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,374,151 shares of the specialty chemicals company’s stock after selling 325,513 shares during the period. Wells Fargo & Company MN owned approximately 0.35% of LyondellBasell Industries NV worth $115,964,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Biltmore Wealth Management LLC lifted its stake in shares of LyondellBasell Industries NV by 0.4% during the first quarter. Biltmore Wealth Management LLC now owns 8,405 shares of the specialty chemicals company’s stock worth $766,000 after buying an additional 30 shares during the period. First Heartland Consultants Inc. lifted its stake in shares of LyondellBasell Industries NV by 1.9% during the first quarter. First Heartland Consultants Inc. now owns 2,500 shares of the specialty chemicals company’s stock worth $228,000 after buying an additional 47 shares during the period. Glenview Trust Co lifted its stake in shares of LyondellBasell Industries NV by 0.5% during the first quarter. Glenview Trust Co now owns 14,001 shares of the specialty chemicals company’s stock worth $1,277,000 after buying an additional 75 shares during the period. CAPROCK Group Inc. lifted its stake in shares of LyondellBasell Industries NV by 1.0% during the second quarter. CAPROCK Group Inc. now owns 8,338 shares of the specialty chemicals company’s stock worth $704,000 after buying an additional 79 shares during the period. Finally, Nippon Life Insurance Co. lifted its stake in shares of LyondellBasell Industries NV by 0.6% during the second quarter. Nippon Life Insurance Co. now owns 16,069 shares of the specialty chemicals company’s stock worth $1,356,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 73.82% of the company’s stock.

Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Cowen and Company reiterated a “hold” rating and set a $90.00 price objective on shares of LyondellBasell Industries NV in a research note on Monday, August 28th. Jefferies Group LLC set a $88.00 target price on shares of LyondellBasell Industries NV and gave the company a “hold” rating in a research report on Monday, August 21st. BidaskClub downgraded shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, UBS AG restated a “neutral” rating and set a $88.00 target price (up from $85.00) 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 given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $95.67.

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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 value of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by company insiders.

LyondellBasell Industries NV (NYSE LYB) opened at 93.66 on Tuesday. The firm has a market cap of $37.07 billion, a P/E ratio of 10.46 and a beta of 1.04. The firm has a 50 day moving average of $88.96 and a 200-day moving average of $86.14. LyondellBasell Industries NV has a 12 month low of $74.02 and a 12 month high of $97.64.

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 net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter last year, the business earned $2.56 EPS. The business’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts forecast that LyondellBasell Industries NV will post $9.93 earnings per share for the current year.

LyondellBasell Industries NV announced that its board has approved a stock buyback program on Wednesday, May 24th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.84%. The ex-dividend date of this dividend is Friday, September 1st. LyondellBasell Industries NV’s dividend payout ratio (DPR) is presently 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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Institutional Ownership by Quarter for LyondellBasell Industries NV (NYSE:LYB)

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