Wolverine Asset Management LLC acquired a new stake in shares of LyondellBasell Industries NV (NYSE:LYB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,000 shares of the specialty chemicals company’s stock, valued at approximately $988,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its position in LyondellBasell Industries by 20.8% during the second quarter. Voya Investment Management LLC now owns 393,745 shares of the specialty chemicals company’s stock valued at $43,253,000 after buying an additional 67,879 shares during the period. Dynamic Technology Lab Private Ltd grew its position in LyondellBasell Industries by 56.0% during the second quarter. Dynamic Technology Lab Private Ltd now owns 7,254 shares of the specialty chemicals company’s stock valued at $797,000 after buying an additional 2,604 shares during the period. Lido Advisors LLC grew its position in LyondellBasell Industries by 22.1% during the second quarter. Lido Advisors LLC now owns 4,895 shares of the specialty chemicals company’s stock valued at $537,000 after buying an additional 885 shares during the period. Kiwi Wealth Investments Limited Partnership bought a new stake in LyondellBasell Industries during the second quarter valued at approximately $4,314,000. Finally, First Republic Investment Management Inc. grew its position in LyondellBasell Industries by 101.2% during the second quarter. First Republic Investment Management Inc. now owns 677,904 shares of the specialty chemicals company’s stock valued at $74,467,000 after buying an additional 55,533,112 shares during the period. 72.61% of the stock is owned by hedge funds and other institutional investors.
Shares of LYB traded down $0.42 during mid-day trading on Friday, reaching $103.50. The stock had a trading volume of 2,556,457 shares, compared to its average volume of 2,253,844. The firm has a market cap of $39.91 billion, a P/E ratio of 10.12, a PEG ratio of 0.92 and a beta of 1.14. LyondellBasell Industries NV has a 12 month low of $96.19 and a 12 month high of $121.95. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.27 and a quick ratio of 1.51.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.90 by $0.44. The business had revenue of $10.21 billion during the quarter, compared to analyst estimates of $9.11 billion. LyondellBasell Industries had a net margin of 15.51% and a return on equity of 53.77%. Equities analysts anticipate that LyondellBasell Industries NV will post 11.67 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 12th. Stockholders of record on Wednesday, September 5th were issued a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Tuesday, September 4th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 39.10%.
LYB has been the subject of several recent research reports. Citigroup lowered shares of LyondellBasell Industries from a “buy” rating to a “neutral” rating and cut their target price for the company from $125.00 to $109.00 in a research report on Monday, September 17th. ValuEngine lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research report on Monday, July 2nd. BMO Capital Markets boosted their target price on shares of LyondellBasell Industries from $111.00 to $112.00 and gave the company a “market perform” rating in a research report on Tuesday, August 7th. Finally, Cowen cut their target price on shares of LyondellBasell Industries from $113.00 to $103.00 and set a “market perform” rating for the company in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $116.66.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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