LyondellBasell Industries NV (NYSE:LYB) Shares Bought by WBI Investments Inc.
WBI Investments Inc. raised its holdings in LyondellBasell Industries NV (NYSE:LYB) by 188.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,502 shares of the specialty chemicals company’s stock after acquiring an additional 32,988 shares during the period. WBI Investments Inc.’s holdings in LyondellBasell Industries were worth $5,548,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. 10 15 Associates Inc. bought a new stake in LyondellBasell Industries in the second quarter valued at approximately $10,616,000. Bank of New York Mellon Corp grew its position in LyondellBasell Industries by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 4,331,592 shares of the specialty chemicals company’s stock worth $475,825,000 after buying an additional 64,786 shares in the last quarter. Verity Asset Management Inc. grew its position in LyondellBasell Industries by 4.0% during the second quarter. Verity Asset Management Inc. now owns 17,149 shares of the specialty chemicals company’s stock worth $1,884,000 after buying an additional 657 shares in the last quarter. Vicus Capital acquired a new stake in LyondellBasell Industries during the second quarter worth approximately $208,000. Finally, Teacher Retirement System of Texas grew its position in LyondellBasell Industries by 9.0% during the second quarter. Teacher Retirement System of Texas now owns 363,948 shares of the specialty chemicals company’s stock worth $39,980,000 after buying an additional 30,045 shares in the last quarter. 72.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently issued reports on LYB shares. Zacks Investment Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Wells Fargo & Co raised their target price on LyondellBasell Industries from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, June 6th. Jefferies Financial Group raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Thursday, May 31st. Standpoint Research downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, May 21st. Finally, Cowen raised their price objective on LyondellBasell Industries from $110.00 to $113.00 and gave the company a “market perform” rating in a report on Friday, August 10th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $117.85.
LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.44. The company had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $9.11 billion. LyondellBasell Industries had a return on equity of 53.77% and a net margin of 15.51%. analysts forecast that LyondellBasell Industries NV will post 11.79 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 12th. Shareholders of record on Wednesday, September 5th were paid a dividend of $1.00 per share. The ex-dividend date was Tuesday, September 4th. This represents a $4.00 dividend on an annualized basis and a yield of 3.80%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 39.10%.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, 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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