Ngam Advisors L.P. increased its position in LyondellBasell Industries NV (NYSE:LYB) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,532 shares of the specialty chemicals company’s stock after buying an additional 674 shares during the period. Ngam Advisors L.P.’s holdings in LyondellBasell Industries NV were worth $1,690,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. FMR LLC increased its stake in LyondellBasell Industries NV by 20.7% in the first quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock worth $2,656,249,000 after buying an additional 4,990,465 shares during the period. American International Group Inc. increased its stake in LyondellBasell Industries NV by 1.6% in the first quarter. American International Group Inc. now owns 5,486,417 shares of the specialty chemicals company’s stock worth $500,306,000 after buying an additional 86,029 shares during the period. UBS Asset Management Americas Inc. increased its stake in LyondellBasell Industries NV by 2.0% in the first quarter. UBS Asset Management Americas Inc. now owns 3,719,506 shares of the specialty chemicals company’s stock worth $339,182,000 after buying an additional 73,959 shares during the period. Norges Bank bought a new stake in LyondellBasell Industries NV during the fourth quarter worth approximately $296,654,000. Finally, Schroder Investment Management Group increased its stake in LyondellBasell Industries NV by 31.8% in the first quarter. Schroder Investment Management Group now owns 3,082,478 shares of the specialty chemicals company’s stock worth $281,337,000 after buying an additional 743,569 shares during the period. 74.20% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries NV (NYSE LYB) opened at 80.17 on Monday. The company’s 50 day moving average is $81.10 and its 200-day moving average is $87.57. LyondellBasell Industries NV has a 1-year low of $69.82 and a 1-year high of $97.64. The stock has a market cap of $32.29 billion, a PE ratio of 9.17 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $2.00 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.36 by $0.36. The firm had revenue of $8.43 billion for the quarter, compared to analyst estimates of $7.59 billion. LyondellBasell Industries NV had a net margin of 11.67% and a return on equity of 60.80%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.48 EPS. Equities research analysts forecast that LyondellBasell Industries NV will post $9.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Monday, June 5th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.49%. The ex-dividend date was Thursday, June 1st. This is a positive change from LyondellBasell Industries NV’s previous quarterly dividend of $0.85. LyondellBasell Industries NV’s dividend payout ratio (DPR) is currently 41.33%.
A number of equities research analysts have commented on LYB shares. Instinet cut their target price on shares of LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, May 1st. Citigroup Inc. reaffirmed an “overweight” rating on shares of LyondellBasell Industries NV in a research report on Friday, April 14th. Bank of America Corporation downgraded shares of LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their price objective for the company from $98.00 to $70.00 in a research report on Monday, May 8th. Jefferies Group LLC reissued a “hold” rating and set a $88.00 price objective on shares of LyondellBasell Industries NV in a research report on Friday, June 16th. Finally, HSBC Holdings plc assumed coverage on shares of LyondellBasell Industries NV in a research report on Monday. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $91.69.
About LyondellBasell Industries NV
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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