Korea Investment CORP Increases Holdings in LyondellBasell Industries N.V. $LYB

Korea Investment CORP increased its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 88.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 229,950 shares of the specialty chemicals company’s stock after buying an additional 107,788 shares during the quarter. Korea Investment CORP owned 0.07% of LyondellBasell Industries worth $13,305,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Arkadios Wealth Advisors bought a new position in LyondellBasell Industries during the first quarter valued at $299,000. Natixis Advisors LLC lifted its holdings in LyondellBasell Industries by 9.3% during the first quarter. Natixis Advisors LLC now owns 65,457 shares of the specialty chemicals company’s stock valued at $4,608,000 after purchasing an additional 5,571 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in LyondellBasell Industries by 10.2% during the first quarter. PNC Financial Services Group Inc. now owns 101,865 shares of the specialty chemicals company’s stock worth $7,171,000 after purchasing an additional 9,395 shares during the period. Banco Santander S.A. increased its stake in shares of LyondellBasell Industries by 85.9% in the first quarter. Banco Santander S.A. now owns 71,474 shares of the specialty chemicals company’s stock worth $5,032,000 after purchasing an additional 33,024 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $216,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

LYB opened at $49.31 on Monday. The stock has a 50-day moving average price of $46.60 and a 200-day moving average price of $53.68. The stock has a market capitalization of $15.87 billion, a P/E ratio of 64.03 and a beta of 0.87. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $83.46. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period in the previous year, the business posted $1.88 EPS. The business’s quarterly revenue was down 10.2% on a year-over-year basis. Equities analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 8th. Stockholders of record on Monday, December 1st will be issued a $1.37 dividend. The ex-dividend date is Monday, December 1st. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. LyondellBasell Industries’s payout ratio is currently -146.13%.

Insiders Place Their Bets

In related news, EVP Kimberly A. Foley bought 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average cost of $43.56 per share, for a total transaction of $246,593.16. Following the acquisition, the executive vice president directly owned 67,688 shares of the company’s stock, valued at $2,948,489.28. The trade was a 9.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of recent analyst reports. UBS Group reduced their target price on LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating for the company in a report on Monday, October 6th. Citigroup cut their price target on shares of LyondellBasell Industries from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Evercore ISI decreased their price target on shares of LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. Royal Bank Of Canada lowered their price objective on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Finally, BMO Capital Markets decreased their target price on LyondellBasell Industries from $58.00 to $48.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $56.19.

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.