CG Asset Management LLC lowered its position in shares of LyondellBasell Industries (NYSE:LYB) by 64.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,505 shares of the company’s stock after selling 26,390 shares during the period. CG Asset Management LLC’s holdings in LyondellBasell Industries were worth $1,079,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of LYB. Americafirst Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the second quarter worth $106,000. Daiwa SB Investments Ltd. boosted its stake in shares of LyondellBasell Industries by 8.3% in the second quarter. Daiwa SB Investments Ltd. now owns 1,830 shares of the company’s stock worth $135,000 after buying an additional 140 shares in the last quarter. MU Investments Co. Ltd. bought a new stake in shares of LyondellBasell Industries during the second quarter worth $159,000. Checchi Capital Advisers LLC boosted its stake in shares of LyondellBasell Industries by 0.3% in the second quarter. Checchi Capital Advisers LLC now owns 2,271 shares of the company’s stock worth $169,000 after buying an additional 7 shares in the last quarter. Finally, BKD Wealth Advisors LLC boosted its stake in shares of LyondellBasell Industries by 15.1% in the second quarter. BKD Wealth Advisors LLC now owns 2,982 shares of the company’s stock worth $222,000 after buying an additional 391 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded down 1.24% during trading on Tuesday, reaching $79.84. The company’s stock had a trading volume of 3,076,622 shares. The firm has a market cap of $33.19 billion, a P/E ratio of 8.62 and a beta of 1.46. LyondellBasell Industries has a 52 week low of $69.10 and a 52 week high of $98.25. The stock’s 50 day moving average is $78.30 and its 200-day moving average is $80.25.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.51 by $0.06. The business had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. LyondellBasell Industries’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.81 EPS. On average, equities research analysts forecast that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 16th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Friday, August 12th. LyondellBasell Industries’s payout ratio is presently 36.68%.
A number of equities research analysts recently weighed in on the stock. Jefferies Group restated a “hold” rating and set a $84.00 price objective (down from $91.00) on shares of LyondellBasell Industries in a research note on Tuesday, July 5th. Nomura reiterated a “hold” rating on shares of LyondellBasell Industries in a research report on Monday, July 11th. RBC Capital Markets reiterated a “hold” rating and issued a $82.00 price target on shares of LyondellBasell Industries in a research report on Tuesday, September 20th. Argus reiterated a “hold” rating on shares of LyondellBasell Industries in a research report on Thursday, August 18th. Finally, Vetr upgraded shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $84.88 price target on the stock in a research report on Monday, August 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the stock. LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $90.60.
In other news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.
About LyondellBasell Industries
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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