Gyroscope Capital Management Group LLC Acquires Shares of 65,109 LyondellBasell Industries NV (LYB)
Gyroscope Capital Management Group LLC acquired a new stake in LyondellBasell Industries NV (NYSE:LYB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 65,109 shares of the specialty chemicals company’s stock, valued at approximately $5,495,000. LyondellBasell Industries NV makes up approximately 2.7% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 12th biggest holding.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. FMR LLC increased its position in LyondellBasell Industries NV by 2.8% in the 2nd quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock valued at $2,527,492,000 after acquiring an additional 821,391 shares in the last quarter. Vanguard Group Inc. increased its position in LyondellBasell Industries NV by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock valued at $2,070,041,000 after acquiring an additional 473,129 shares in the last quarter. BlackRock Inc. increased its position in LyondellBasell Industries NV by 11.6% in the 2nd quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after acquiring an additional 2,327,350 shares in the last quarter. Capital World Investors increased its position in LyondellBasell Industries NV by 23.0% in the 2nd quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock valued at $1,650,846,000 after acquiring an additional 3,651,750 shares in the last quarter. Finally, State Street Corp increased its position in LyondellBasell Industries NV by 0.6% in the 1st quarter. State Street Corp now owns 15,462,749 shares of the specialty chemicals company’s stock valued at $1,410,047,000 after acquiring an additional 88,954 shares in the last quarter. Hedge funds and other institutional investors own 73.81% of the company’s stock.
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Several equities research analysts have weighed in on LYB shares. SunTrust Banks, Inc. restated a “hold” rating and issued a $96.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research report on Saturday, September 30th. UBS AG restated a “neutral” rating and issued a $88.00 price objective (up previously from $85.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Cowen and Company restated a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries NV in a research report on Monday, August 28th. Zacks Investment Research lowered shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $110.00 target price on shares of LyondellBasell Industries NV in a research note on Wednesday, June 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $94.33.
LyondellBasell Industries NV (LYB) traded down 0.58% on Friday, reaching $98.90. 2,506,924 shares of the company traded hands. LyondellBasell Industries NV has a one year low of $76.71 and a one year high of $100.74. The firm has a 50 day moving average of $94.16 and a 200-day moving average of $87.16. The stock has a market capitalization of $39.14 billion, a PE ratio of 11.04 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.56 EPS. On average, analysts anticipate that LyondellBasell Industries NV will post $9.92 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Wednesday, September 6th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Friday, September 1st. LyondellBasell Industries NV’s dividend payout ratio is presently 40.18%.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company’s stock.
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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