Martingale Asset Management L P boosted its holdings in LyondellBasell Industries NV (NYSE:LYB) by 2.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,939 shares of the specialty chemicals company’s stock after purchasing an additional 2,821 shares during the quarter. Martingale Asset Management L P’s holdings in LyondellBasell Industries NV were worth $9,869,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new position in LyondellBasell Industries NV during the 1st quarter worth $107,000. TrimTabs Asset Management LLC boosted its holdings in LyondellBasell Industries NV by 89.1% during the 1st quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock worth $124,000 after acquiring an additional 640 shares during the last quarter. Point72 Asia Hong Kong Ltd purchased a new position in LyondellBasell Industries NV during the 1st quarter worth $132,000. American Beacon Advisors Inc. purchased a new position in LyondellBasell Industries NV during the 1st quarter worth $161,000. Finally, Seven Bridges Advisors LLC boosted its holdings in LyondellBasell Industries NV by 32.8% during the 2nd quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock worth $163,000 after acquiring an additional 478 shares during the last quarter. 73.82% of the stock is owned by institutional investors and hedge funds.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.09% of the company’s stock.
LyondellBasell Industries NV (NYSE LYB) opened at 92.37 on Monday. The company has a 50 day moving average of $88.90 and a 200-day moving average of $86.30. LyondellBasell Industries NV has a one year low of $74.02 and a one year high of $97.64. The stock has a market capitalization of $36.56 billion, a P/E ratio of 10.31 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same period last year, the firm posted $2.56 earnings per share. Equities research analysts predict that LyondellBasell Industries NV will post $9.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, September 6th will be given a $0.90 dividend. The ex-dividend date is Friday, September 1st. This represents a $3.60 annualized dividend and a yield of 3.93%. LyondellBasell Industries NV’s payout ratio is 40.18%.
LyondellBasell Industries NV declared that its Board of Directors has initiated a stock repurchase program on Wednesday, May 24th that permits the company to repurchase 1,000% of outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
A number of research firms have issued reports on LYB. ValuEngine raised shares of LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Cowen and Company reaffirmed a “hold” rating and set a $90.00 price objective on shares of LyondellBasell Industries NV in a report on Monday, August 28th. Jefferies Group LLC set a $88.00 price objective on shares of LyondellBasell Industries NV and gave the stock a “hold” rating in a report on Monday, August 21st. BidaskClub downgraded shares of LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, UBS AG reaffirmed a “neutral” rating and set a $88.00 price objective (up from $85.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $95.67.
LyondellBasell Industries NV Profile
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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