Atria Investments LLC Takes Position in LyondellBasell Industries (NYSE:LYB)

Atria Investments LLC acquired a new stake in shares of LyondellBasell Industries (NYSE:LYBGet Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,016 shares of the specialty chemicals company’s stock, valued at approximately $1,441,000.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in LyondellBasell Industries during the fourth quarter worth about $223,744,000. Marathon Asset Mgmt Ltd purchased a new position in LyondellBasell Industries during the fourth quarter worth about $85,807,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in LyondellBasell Industries during the first quarter worth about $86,336,000. Renaissance Technologies LLC boosted its holdings in LyondellBasell Industries by 162.8% during the fourth quarter. Renaissance Technologies LLC now owns 1,270,800 shares of the specialty chemicals company’s stock worth $117,206,000 after purchasing an additional 787,300 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in LyondellBasell Industries by 45.9% during the fourth quarter. Citigroup Inc. now owns 2,473,340 shares of the specialty chemicals company’s stock worth $228,116,000 after purchasing an additional 777,787 shares during the last quarter. 69.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LyondellBasell Industries news, CFO Michael C. Mcmurray sold 33,880 shares of the business’s stock in a transaction that occurred on Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the transaction, the chief financial officer now owns 39,612 shares of the company’s stock, valued at approximately $4,394,555.28. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Jagjeet S. Bindra sold 2,640 shares of the company’s stock in a transaction on Tuesday, June 7th. The shares were sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the sale, the director now owns 7,020 shares of the company’s stock, valued at approximately $782,308.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael C. Mcmurray sold 33,880 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $110.94, for a total transaction of $3,758,647.20. Following the completion of the sale, the chief financial officer now directly owns 39,612 shares of the company’s stock, valued at approximately $4,394,555.28. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LYB. Royal Bank of Canada cut their price target on shares of LyondellBasell Industries from $109.00 to $99.00 and set a “sector perform” rating on the stock in a report on Wednesday, June 22nd. Bank of America lowered their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 14th. Credit Suisse Group began coverage on shares of LyondellBasell Industries in a research report on Monday, June 27th. They issued an “underperform” rating and a $70.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of LyondellBasell Industries from $104.00 to $120.00 in a research report on Thursday, May 5th. Finally, Alembic Global Advisors lowered shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $120.00 to $115.00 in a research report on Tuesday, May 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $110.12.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $87.18 on Wednesday. The firm’s 50 day simple moving average is $96.34 and its 200 day simple moving average is $100.28. The company has a current ratio of 1.76, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $28.56 billion, a PE ratio of 4.96, a price-to-earnings-growth ratio of 0.62 and a beta of 1.32. LyondellBasell Industries has a 1-year low of $82.14 and a 1-year high of $117.22.

LyondellBasell Industries (NYSE:LYBGet Rating) last posted its earnings results on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.52. The business had revenue of $13.16 billion for the quarter, compared to analyst estimates of $12.67 billion. LyondellBasell Industries had a net margin of 11.68% and a return on equity of 54.14%. LyondellBasell Industries’s revenue was up 44.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.18 EPS. As a group, analysts expect that LyondellBasell Industries will post 17.5 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a special dividend, which was paid on Monday, June 13th. Shareholders of record on Monday, June 6th were paid a $5.20 dividend. The ex-dividend date was Friday, June 3rd. This represents a yield of 4.2%. LyondellBasell Industries’s dividend payout ratio is presently 27.11%.

About LyondellBasell Industries

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LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

See Also

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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