ClariVest Asset Management LLC boosted its stake in LyondellBasell Industries (NYSE:LYB) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,972 shares of the company’s stock after buying an additional 429 shares during the period. ClariVest Asset Management LLC’s holdings in LyondellBasell Industries were worth $29,693,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of LyondellBasell Industries by 3.9% in the first quarter. Geode Capital Management LLC now owns 3,165,347 shares of the company’s stock valued at $270,393,000 after buying an additional 117,962 shares during the last quarter. Franklin Resources Inc. raised its position in shares of LyondellBasell Industries by 566.7% in the first quarter. Franklin Resources Inc. now owns 2,711,999 shares of the company’s stock valued at $232,097,000 after buying an additional 2,305,218 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of LyondellBasell Industries during the second quarter valued at about $184,074,000. UBS Asset Management Americas Inc. raised its position in shares of LyondellBasell Industries by 3.0% in the first quarter. UBS Asset Management Americas Inc. now owns 2,279,923 shares of the company’s stock valued at $195,118,000 after buying an additional 66,090 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of LyondellBasell Industries by 9.3% in the first quarter. Panagora Asset Management Inc. now owns 1,823,884 shares of the company’s stock valued at $156,088,000 after buying an additional 154,879 shares during the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded up 1.87% during mid-day trading on Wednesday, reaching $81.33. The company’s stock had a trading volume of 3,221,662 shares. LyondellBasell Industries has a one year low of $69.10 and a one year high of $98.25. The firm’s 50 day moving average is $78.34 and its 200-day moving average is $80.25. The stock has a market cap of $33.81 billion, a P/E ratio of 8.78 and a beta of 1.46.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, July 29th. The company reported $2.45 EPS for the quarter, missing the consensus estimate of $2.51 by $0.06. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The company had revenue of $7.33 billion for the quarter, compared to the consensus estimate of $7.64 billion. During the same period last year, the company earned $2.81 EPS. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. Equities analysts expect that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 16th were issued a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Friday, August 12th. LyondellBasell Industries’s payout ratio is 36.68%.
LYB has been the topic of several recent research reports. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 price target on the stock in a report on Wednesday. Vetr upgraded LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $84.88 price target on the stock in a report on Monday, August 1st. Barclays PLC cut their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, August 2nd. Susquehanna cut their price target on LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a report on Friday, August 26th. Finally, Jefferies Group reiterated a “neutral” rating on shares of LyondellBasell Industries in a report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $89.87.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of the stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
LyondellBasell Industries Company Profile
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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