Dakota Wealth Management Decreases Holdings in LyondellBasell Industries NV (LYB)
Dakota Wealth Management cut its stake in LyondellBasell Industries NV (NYSE:LYB) by 15.2% in the 4th quarter, HoldingsChannel reports. The firm owned 16,808 shares of the specialty chemicals company’s stock after selling 3,019 shares during the period. Dakota Wealth Management’s holdings in LyondellBasell Industries were worth $1,723,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of LYB. Vident Investment Advisory LLC bought a new position in shares of LyondellBasell Industries in the 2nd quarter worth about $201,000. Global X Management Co LLC grew its position in LyondellBasell Industries by 128.5% during the 2nd quarter. Global X Management Co LLC now owns 4,445 shares of the specialty chemicals company’s stock valued at $488,000 after purchasing an additional 2,500 shares during the last quarter. Schroder Investment Management Group grew its position in LyondellBasell Industries by 18.2% during the 2nd quarter. Schroder Investment Management Group now owns 962,634 shares of the specialty chemicals company’s stock valued at $105,264,000 after purchasing an additional 148,506 shares during the last quarter. Bank of New York Mellon Corp grew its position in LyondellBasell Industries by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock valued at $475,825,000 after purchasing an additional 64,786 shares during the last quarter. Finally, Old Port Advisors purchased a new stake in LyondellBasell Industries during the 2nd quarter valued at about $811,000. Institutional investors own 73.04% of the company’s stock.
In related news, major shareholder Ai Investments Holdings Llc purchased 131,870 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were purchased at an average price of $93.10 per share, with a total value of $12,277,097.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction dated Thursday, December 6th. The shares were bought at an average cost of $88.63 per share, for a total transaction of $443,150.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,401,236 shares of company stock worth $418,531,263. Insiders own 0.09% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.28. The firm had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $9.95 billion. LyondellBasell Industries had a net margin of 15.01% and a return on equity of 47.35%. The business’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.67 EPS. As a group, equities research analysts anticipate that LyondellBasell Industries NV will post 11.59 EPS for the current fiscal year.
Several analysts recently commented on LYB shares. Alembic Global Advisors set a $120.00 price objective on shares of LyondellBasell Industries and gave the company a “buy” rating in a research report on Monday, November 12th. HSBC raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research report on Friday, November 2nd. Zacks Investment Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a research report on Thursday, October 4th. Standpoint Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Friday, October 12th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of LyondellBasell Industries in a research report on Thursday, November 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $116.94.
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LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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