Bruce & Co. Inc. Takes Position in LyondellBasell Industries N.V. $LYB

Bruce & Co. Inc. purchased a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 40,000 shares of the specialty chemicals company’s stock, valued at approximately $2,314,000. LyondellBasell Industries accounts for approximately 0.8% of Bruce & Co. Inc.’s investment portfolio, making the stock its 24th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of LyondellBasell Industries during the 2nd quarter valued at $280,000,000. Soundwatch Capital LLC purchased a new stake in shares of LyondellBasell Industries during the second quarter worth $268,123,000. Nuveen LLC purchased a new stake in shares of LyondellBasell Industries during the first quarter worth $43,280,000. Alliancebernstein L.P. grew its stake in LyondellBasell Industries by 15.7% in the first quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company’s stock valued at $289,014,000 after purchasing an additional 557,397 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in LyondellBasell Industries by 67.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,372,998 shares of the specialty chemicals company’s stock worth $79,438,000 after purchasing an additional 553,081 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 1.5%

LyondellBasell Industries stock opened at $44.43 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $79.39. The firm has a fifty day moving average price of $45.63 and a two-hundred day moving average price of $52.85. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of -11.85 and a beta of 0.71.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the company posted $1.88 earnings per share. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. As a group, analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 8th. Stockholders of record on Monday, December 1st were issued a dividend of $1.37 per share. The ex-dividend date was Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a dividend yield of 12.3%. LyondellBasell Industries’s payout ratio is -146.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup reduced their price target on LyondellBasell Industries from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Wall Street Zen downgraded shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Fermium Researc downgraded shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 3rd. Zacks Research upgraded shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Bank of America lowered their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 14th. Three investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $56.00.

Insider Buying and Selling at LyondellBasell Industries

In related news, EVP Kimberly A. Foley acquired 5,661 shares of the stock in a transaction dated Wednesday, November 12th. The shares were acquired at an average price of $43.56 per share, for a total transaction of $246,593.16. Following the completion of the purchase, the executive vice president owned 67,688 shares in the company, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

LyondellBasell Industries 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.