Bridgewater Associates LP Acquires New Holdings in LyondellBasell Industries (NYSE:LYB)

Bridgewater Associates LP bought a new position in shares of LyondellBasell Industries (NYSE:LYB) in the third quarter, HoldingsChannel reports. The firm bought 25,980 shares of the specialty chemicals company’s stock, valued at approximately $2,491,000.

Several other hedge funds have also recently bought and sold shares of LYB. Townsquare Capital LLC increased its position in shares of LyondellBasell Industries by 37.8% during the third quarter. Townsquare Capital LLC now owns 45,193 shares of the specialty chemicals company’s stock worth $4,334,000 after acquiring an additional 12,408 shares in the last quarter. Cadence Bank increased its holdings in LyondellBasell Industries by 2.7% during the 3rd quarter. Cadence Bank now owns 82,929 shares of the specialty chemicals company’s stock worth $7,953,000 after purchasing an additional 2,174 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $60,000. Quantbot Technologies LP bought a new stake in shares of LyondellBasell Industries in the third quarter valued at about $3,168,000. Finally, Qsemble Capital Management LP acquired a new position in shares of LyondellBasell Industries during the third quarter worth about $4,792,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYB. JPMorgan Chase & Co. dropped their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Trading Up 0.4 %

LyondellBasell Industries stock opened at $83.34 on Friday. The stock has a 50-day simple moving average of $88.88 and a 200 day simple moving average of $93.67. The stock has a market capitalization of $27.07 billion, a P/E ratio of 12.68, a PEG ratio of 2.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. LyondellBasell Industries has a 52 week low of $81.45 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the firm posted $2.46 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. Analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 6.43%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

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.