LyondellBasell Industries N.V. $LYB Stock Position Increased by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 11.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,367,497 shares of the specialty chemicals company’s stock after acquiring an additional 141,034 shares during the period. AustralianSuper Pty Ltd’s holdings in LyondellBasell Industries were worth $79,123,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC bought a new position in shares of LyondellBasell Industries in the first quarter valued at approximately $25,000. Investment Management Corp VA ADV lifted its holdings in shares of LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 261 shares during the last quarter. Hilltop National Bank acquired a new position in shares of LyondellBasell Industries in the 2nd quarter valued at $29,000. Brown Lisle Cummings Inc. boosted its holdings in shares of LyondellBasell Industries by 55.2% in the second quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company’s stock worth $35,000 after buying an additional 213 shares during the period. Finally, TruNorth Capital Management LLC purchased a new position in LyondellBasell Industries during the 1st quarter worth approximately $42,000. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LYB. Deutsche Bank Aktiengesellschaft dropped their target price on LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Rothschild & Co Redburn lowered their price objective on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Saturday. Finally, Bank Of America (Bofa) dropped their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $58.56.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $47.58 on Monday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. LyondellBasell Industries N.V. has a one year low of $44.87 and a one year high of $88.79. The company has a fifty day moving average price of $51.39 and a 200 day moving average price of $55.88. The stock has a market cap of $15.30 billion, a P/E ratio of 61.79 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the business earned $2.24 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a yield of 11.5%. LyondellBasell Industries’s dividend payout ratio is 711.69%.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.