Wills Financial Group Inc. raised its stake in LyondellBasell Industries NV (NYSE:LYB) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,665 shares of the specialty chemicals company’s stock after acquiring an additional 3,714 shares during the quarter. LyondellBasell Industries NV makes up 1.7% of Wills Financial Group Inc.’s portfolio, making the stock its 21st biggest holding. Wills Financial Group Inc.’s holdings in LyondellBasell Industries NV were worth $2,335,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYB. Harbour Capital Advisors LLC purchased a new stake in shares of LyondellBasell Industries NV in the first quarter valued at $107,000. TrimTabs Asset Management LLC grew its position in shares of LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after purchasing an additional 640 shares during the period. Point72 Asia Hong Kong Ltd purchased a new stake in shares of LyondellBasell Industries NV in the first quarter valued at $132,000. American Beacon Advisors Inc. purchased a new stake in shares of LyondellBasell Industries NV in the first quarter valued at $161,000. Finally, Seven Bridges Advisors LLC grew its position in shares of LyondellBasell Industries NV by 32.8% in the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after purchasing an additional 478 shares during the period. 73.82% of the stock is owned by institutional investors.
Shares of LyondellBasell Industries NV (NYSE:LYB) traded up 0.78% during mid-day trading on Friday, reaching $95.17. The company’s stock had a trading volume of 7,251,700 shares. The company has a 50 day moving average price of $89.93 and a 200 day moving average price of $86.35. The stock has a market capitalization of $37.67 billion, a P/E ratio of 10.63 and a beta of 1.04. LyondellBasell Industries NV has a 12 month low of $75.76 and a 12 month high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last issued its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion for the quarter, compared to analysts’ expectations of $8.52 billion. During the same period in the prior year, the firm earned $2.56 EPS. LyondellBasell Industries NV’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV declared that its Board of Directors has initiated a share buyback program on Wednesday, May 24th that allows the company to buyback 1,000% of outstanding shares. This buyback authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were paid a $0.90 dividend. The ex-dividend date was Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a yield of 3.78%. LyondellBasell Industries NV’s dividend payout ratio (DPR) is currently 40.18%.
A number of research firms have issued reports on LYB. ValuEngine raised LyondellBasell Industries NV from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Cowen and Company reissued a “hold” rating and set a $90.00 price target on shares of LyondellBasell Industries NV in a research report on Monday, August 28th. BidaskClub downgraded LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. UBS AG reissued a “neutral” rating and set a $88.00 price target (up previously from $85.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Finally, Deutsche Bank AG reissued a “buy” rating and set a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a research report on Monday, July 31st. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $95.67.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.
LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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