Power Corp of Canada Invests $287,000 in LyondellBasell Industries (NYSE:LYB)

Power Corp of Canada acquired a new position in shares of LyondellBasell Industries (NYSE:LYBGet Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,809 shares of the specialty chemicals company’s stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Industrial Alliance Investment Management Inc. raised its holdings in shares of LyondellBasell Industries by 0.3% in the 3rd quarter. Industrial Alliance Investment Management Inc. now owns 46,876 shares of the specialty chemicals company’s stock worth $3,529,000 after acquiring an additional 142 shares during the last quarter. Glenmede Trust Co. NA increased its stake in LyondellBasell Industries by 19.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 29,755 shares of the specialty chemicals company’s stock valued at $2,238,000 after buying an additional 4,900 shares during the last quarter. Captrust Financial Advisors increased its stake in LyondellBasell Industries by 56.1% in the 3rd quarter. Captrust Financial Advisors now owns 84,972 shares of the specialty chemicals company’s stock valued at $6,397,000 after buying an additional 30,555 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund increased its stake in LyondellBasell Industries by 3.1% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 9,118 shares of the specialty chemicals company’s stock valued at $686,000 after buying an additional 275 shares during the last quarter. Finally, Kentucky Retirement Systems increased its stake in LyondellBasell Industries by 3.7% in the 3rd quarter. Kentucky Retirement Systems now owns 19,917 shares of the specialty chemicals company’s stock valued at $1,499,000 after buying an additional 708 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $98.99, for a total transaction of $989,900.00. Following the completion of the transaction, the executive vice president now directly owns 47,600 shares of the company’s stock, valued at $4,711,924. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $84.16 on Thursday. The stock has a market cap of $27.44 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. The firm’s fifty day moving average price is $94.56 and its 200-day moving average price is $85.94. LyondellBasell Industries has a fifty-two week low of $71.46 and a fifty-two week high of $117.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 1.75.

LyondellBasell Industries (NYSE:LYBGet Rating) last released its quarterly earnings data on Friday, February 3rd. The specialty chemicals company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.20. The firm had revenue of $10.21 billion for the quarter, compared to analysts’ expectations of $10.73 billion. LyondellBasell Industries had a net margin of 7.71% and a return on equity of 32.96%. The company’s revenue for the quarter was down 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.63 earnings per share. On average, equities research analysts expect that LyondellBasell Industries will post 9.01 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, March 6th were issued a $1.19 dividend. The ex-dividend date was Friday, March 3rd. This represents a $4.76 annualized dividend and a yield of 5.66%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 40.34%.

Analyst Upgrades and Downgrades

Several research firms have commented on LYB. Citigroup increased their price objective on shares of LyondellBasell Industries from $80.00 to $92.00 in a research note on Thursday, December 15th. Mizuho increased their price objective on shares of LyondellBasell Industries from $89.00 to $91.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. StockNews.com initiated coverage on shares of LyondellBasell Industries in a research note on Thursday. They issued a “hold” rating for the company. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 target price on shares of LyondellBasell Industries in a research report on Wednesday. Finally, Atlantic Securities raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a research report on Tuesday, January 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $99.53.

About LyondellBasell Industries

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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

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