OmniStar Financial Group Inc. boosted its position in LyondellBasell Industries NV (NYSE:LYB) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,533 shares of the specialty chemicals company’s stock after buying an additional 382 shares during the quarter. LyondellBasell Industries makes up about 1.5% of OmniStar Financial Group Inc.’s portfolio, making the stock its 22nd biggest position. OmniStar Financial Group Inc.’s holdings in LyondellBasell Industries were worth $1,658,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC bought a new position in LyondellBasell Industries in the second quarter valued at approximately $1,396,000. Advisors Preferred LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $25,000. Prestige Wealth Management Group LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $26,000. MUFG Americas Holdings Corp boosted its stake in shares of LyondellBasell Industries by 80.8% during the 2nd quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 147 shares during the period. Finally, Reilly Financial Advisors LLC boosted its stake in shares of LyondellBasell Industries by 89.4% during the 2nd quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock worth $36,000 after acquiring an additional 195 shares during the period. 75.87% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have recently commented on LYB. BMO Capital Markets reduced their target price on LyondellBasell Industries from $90.00 to $88.00 and set a “market perform” rating for the company in a research note on Monday, August 5th. Bank of America lifted their target price on LyondellBasell Industries from $89.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Nomura reduced their target price on LyondellBasell Industries from $91.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. began coverage on LyondellBasell Industries in a research note on Friday, July 19th. They set an “underweight” rating and a $80.00 target price for the company. Finally, UBS Group lifted their target price on LyondellBasell Industries from $87.00 to $93.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $99.94.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.84 by ($0.09). The firm had revenue of $9.05 billion for the quarter, compared to analyst estimates of $9.26 billion. LyondellBasell Industries had a return on equity of 35.20% and a net margin of 9.83%. On average, analysts predict that LyondellBasell Industries NV will post 10.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 11th. Investors of record on Wednesday, September 4th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.20 annualized dividend and a yield of 4.77%. LyondellBasell Industries’s payout ratio is currently 37.27%.
In other news, CEO Bhavesh V. Patel purchased 7,246 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $68.85 per share, with a total value of $498,887.10. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jagjeet S. Bindra purchased 1,360 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were purchased at an average cost of $73.48 per share, with a total value of $99,932.80. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 773,107 shares of company stock valued at $57,638,240. 0.14% of the stock is currently owned by insiders.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.
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