LyondellBasell Industries NV (LYB) Shares Bought by Rafferty Asset Management LLC
Rafferty Asset Management LLC boosted its position in LyondellBasell Industries NV (NYSE:LYB) by 19.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,880 shares of the specialty chemicals company’s stock after buying an additional 967 shares during the period. Rafferty Asset Management LLC’s holdings in LyondellBasell Industries NV were worth $496,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC bought a new stake in LyondellBasell Industries NV in the 1st quarter valued at about $107,000. Point72 Asia Hong Kong Ltd bought a new stake in LyondellBasell Industries NV in the 1st quarter valued at about $132,000. American Beacon Advisors Inc. bought a new stake in LyondellBasell Industries NV in the 1st quarter valued at about $161,000. Seven Bridges Advisors LLC increased its position in LyondellBasell Industries NV by 32.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after buying an additional 478 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. bought a new stake in LyondellBasell Industries NV in the 1st quarter valued at about $208,000. 73.81% of the stock is owned by institutional investors and hedge funds.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction that occurred 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 the SEC website. 0.09% of the stock is owned by company insiders.
LyondellBasell Industries NV (NYSE:LYB) opened at 99.78 on Thursday. LyondellBasell Industries NV has a 12-month low of $75.76 and a 12-month high of $100.69. The stock has a 50 day moving average price of $90.28 and a 200 day moving average price of $86.32. The company has a market capitalization of $39.49 billion, a price-to-earnings ratio of 11.14 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last announced its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.68 by $0.14. The company 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 firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.56 earnings per share. On average, analysts expect that LyondellBasell Industries NV will post $9.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.61%. The ex-dividend date was Friday, September 1st. LyondellBasell Industries NV’s dividend payout ratio (DPR) is currently 40.18%.
A number of brokerages recently commented on LYB. Nomura reaffirmed a “hold” rating and issued a $99.00 target price (up from $90.00) on shares of LyondellBasell Industries NV in a research report on Tuesday. 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. Jefferies Group LLC set a $88.00 price objective on LyondellBasell Industries NV and gave the stock a “hold” rating in a report on Monday, August 21st. Finally, BidaskClub lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $95.88.
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.
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