Scopus Asset Management L.P. purchased a new position in LyondellBasell Industries (NYSE:LYB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 45,000 shares of the specialty chemicals company’s stock, valued at approximately $4,682,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of LYB. Capital International Investors increased its holdings in LyondellBasell Industries by 5.7% in the 1st quarter. Capital International Investors now owns 40,726,344 shares of the specialty chemicals company’s stock worth $4,237,650,000 after acquiring an additional 2,196,558 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of LyondellBasell Industries by 643.4% during the first quarter. Ninety One UK Ltd now owns 1,204,674 shares of the specialty chemicals company’s stock worth $125,346,000 after buying an additional 1,042,631 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of LyondellBasell Industries during the first quarter worth $74,121,000. Samlyn Capital LLC purchased a new stake in shares of LyondellBasell Industries during the first quarter worth $55,171,000. Finally, Amundi Asset Management US Inc. grew its holdings in shares of LyondellBasell Industries by 102.4% during the first quarter. Amundi Asset Management US Inc. now owns 804,617 shares of the specialty chemicals company’s stock worth $83,721,000 after buying an additional 407,169 shares in the last quarter. 68.48% of the stock is owned by institutional investors.
Shares of LYB traded down $1.55 during mid-day trading on Thursday, hitting $95.53. 37,853 shares of the company’s stock were exchanged, compared to its average volume of 1,805,987. The company has a market capitalization of $31.94 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.53. LyondellBasell Industries has a fifty-two week low of $61.52 and a fifty-two week high of $118.01. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.07 and a current ratio of 1.74. The company has a 50-day moving average of $106.57.
The company also recently announced a quarterly dividend, which was paid on Monday, June 14th. Investors of record on Monday, June 7th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.73%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, June 4th. LyondellBasell Industries’s dividend payout ratio is presently 80.57%.
In other news, CEO Bhavesh V. Patel sold 1,406 shares of the stock in a transaction that occurred on Thursday, June 3rd. The stock was sold at an average price of $118.00, for a total value of $165,908.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James D. Guilfoyle sold 610 shares of the stock in a transaction that occurred on Wednesday, May 5th. The shares were sold at an average price of $110.16, for a total value of $67,197.60. The disclosure for this sale can be found here. Insiders have sold 2,210 shares of company stock worth $254,077 over the last 90 days. Insiders own 0.18% of the company’s stock.
LYB has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of LyondellBasell Industries from $96.00 to $116.00 and gave the stock an “overweight” rating in a report on Thursday, April 8th. Zacks Investment Research raised shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating and set a $119.00 target price for the company in a report on Friday, July 2nd. Wolfe Research initiated coverage on shares of LyondellBasell Industries in a research report on Wednesday, June 9th. They set a “market perform” rating on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of LyondellBasell Industries from $110.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, June 4th. Finally, Bank of America cut shares of LyondellBasell Industries from a “buy” rating to a “neutral” rating and lowered their price target for the company from $117.00 to $114.00 in a research report on Friday, July 16th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $99.82.
LyondellBasell Industries Profile
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 PolyolefinsÂAmericas; Olefins and PolyolefinsÂEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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