Comerica Bank lifted its holdings in LyondellBasell Industries (NYSE:LYB – Get Rating) by 2.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,330 shares of the specialty chemicals company’s stock after acquiring an additional 1,140 shares during the quarter. Comerica Bank’s holdings in LyondellBasell Industries were worth $3,441,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meritage Portfolio Management acquired a new stake in shares of LyondellBasell Industries in the second quarter worth $1,766,000. AlphaCrest Capital Management LLC grew its position in LyondellBasell Industries by 123.8% during the second quarter. AlphaCrest Capital Management LLC now owns 20,328 shares of the specialty chemicals company’s stock valued at $1,778,000 after buying an additional 11,243 shares during the period. Busey Wealth Management grew its position in LyondellBasell Industries by 3.4% during the second quarter. Busey Wealth Management now owns 73,064 shares of the specialty chemicals company’s stock valued at $6,390,000 after buying an additional 2,420 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in LyondellBasell Industries by 2.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 26,935 shares of the specialty chemicals company’s stock valued at $2,356,000 after buying an additional 712 shares during the period. Finally, Capital Investment Advisors LLC grew its position in LyondellBasell Industries by 20.1% during the second quarter. Capital Investment Advisors LLC now owns 8,305 shares of the specialty chemicals company’s stock valued at $726,000 after buying an additional 1,390 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on the stock. UBS Group raised their price target on shares of LyondellBasell Industries from $81.00 to $91.00 and gave the company a “neutral” rating in a research report on Wednesday, January 11th. Barclays lowered shares of LyondellBasell Industries from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $95.00 to $82.00 in a research report on Monday, October 31st. KeyCorp lifted their target price on shares of LyondellBasell Industries from $65.00 to $83.00 and gave the company an “underweight” rating in a research report on Thursday. Bank of America dropped their target price on shares of LyondellBasell Industries from $95.00 to $77.00 in a research report on Tuesday, October 11th. Finally, Morgan Stanley dropped their target price on shares of LyondellBasell Industries from $115.00 to $100.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 12th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $94.42.
LyondellBasell Industries Price Performance
LyondellBasell Industries (NYSE:LYB – Get Rating) last announced its quarterly earnings results on Friday, October 28th. The specialty chemicals company reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.96 by ($1.00). LyondellBasell Industries had a net margin of 8.03% and a return on equity of 39.88%. The company had revenue of $12.25 billion for the quarter, compared to analyst estimates of $13.28 billion. Analysts predict that LyondellBasell Industries will post 12.26 earnings per share for the current year.
LyondellBasell Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 5th. Shareholders of record on Monday, November 28th were given a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.08%. The ex-dividend date of this dividend was Friday, November 25th. LyondellBasell Industries’s dividend payout ratio is presently 36.87%.
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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