Advisory Services Network LLC increased its stake in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 13.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 16,834 shares of the specialty chemicals company’s stock after acquiring an additional 2,020 shares during the period. Advisory Services Network LLC’s holdings in LyondellBasell Industries were worth $1,731,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of LyondellBasell Industries by 3.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,174 shares of the specialty chemicals company’s stock valued at $4,542,000 after acquiring an additional 1,396 shares during the last quarter. Veriti Management LLC increased its holdings in shares of LyondellBasell Industries by 43.8% during the 1st quarter. Veriti Management LLC now owns 4,527 shares of the specialty chemicals company’s stock valued at $465,000 after acquiring an additional 1,378 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of LyondellBasell Industries by 14.0% during the 1st quarter. ProShare Advisors LLC now owns 101,976 shares of the specialty chemicals company’s stock valued at $10,484,000 after acquiring an additional 12,534 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of LyondellBasell Industries by 5.2% during the 1st quarter. Cerity Partners LLC now owns 2,654 shares of the specialty chemicals company’s stock valued at $273,000 after acquiring an additional 131 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of LyondellBasell Industries by 3.1% during the 1st quarter. Fulton Bank N.A. now owns 4,989 shares of the specialty chemicals company’s stock valued at $512,000 after acquiring an additional 150 shares during the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on LYB. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, September 13th. Alembic Global Advisors lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $120.00 to $115.00 in a report on Tuesday, May 31st. Credit Suisse Group began coverage on LyondellBasell Industries in a report on Monday, June 27th. They issued an “underperform” rating and a $70.00 target price on the stock. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, September 2nd. Finally, Barclays reduced their price objective on LyondellBasell Industries from $110.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average price target of $101.95.
LyondellBasell Industries Trading Down 2.0 %
LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.91 by $0.28. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. The firm had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $13.70 billion. During the same quarter in the previous year, the company posted $6.13 EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Analysts predict that LyondellBasell Industries will post 15.9 EPS for the current fiscal year.
LyondellBasell Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 29th were given a $1.19 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Friday, August 26th. This represents a $4.76 annualized dividend and a yield of 6.17%. LyondellBasell Industries’s payout ratio is presently 29.01%.
About LyondellBasell Industries
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.
- Get a free copy of the StockNews.com research report on LyondellBasell Industries (LYB)
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