Rehmann Capital Advisory Group Sells 2,500 Shares of LyondellBasell Industries (LYB)
Rehmann Capital Advisory Group cut its position in shares of LyondellBasell Industries (NYSE:LYB) by 34.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,762 shares of the company’s stock after selling 2,500 shares during the period. Rehmann Capital Advisory Group’s holdings in LyondellBasell Industries were worth $354,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in LYB. Geode Capital Management LLC increased its position in shares of LyondellBasell Industries by 3.9% in the first quarter. Geode Capital Management LLC now owns 3,165,347 shares of the company’s stock worth $270,393,000 after buying an additional 117,962 shares in the last quarter. Franklin Resources Inc. increased its position in shares of LyondellBasell Industries by 566.7% in the first quarter. Franklin Resources Inc. now owns 2,711,999 shares of the company’s stock worth $232,097,000 after buying an additional 2,305,218 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of LyondellBasell Industries during the second quarter worth about $184,074,000. UBS Asset Management Americas Inc. increased its position in shares of LyondellBasell Industries by 3.0% in the first quarter. UBS Asset Management Americas Inc. now owns 2,279,923 shares of the company’s stock worth $195,118,000 after buying an additional 66,090 shares in the last quarter. Finally, Prudential Financial Inc. increased its position in shares of LyondellBasell Industries by 0.7% in the first quarter. Prudential Financial Inc. now owns 2,110,969 shares of the company’s stock worth $180,657,000 after buying an additional 14,580 shares in the last quarter. 68.63% of the stock is owned by institutional investors.
LyondellBasell Industries (NYSE:LYB) traded down 1.15% during trading on Tuesday, reaching $77.54. The company had a trading volume of 2,835,725 shares. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $98.25. The stock has a 50 day moving average of $77.16 and a 200-day moving average of $80.69. The stock has a market capitalization of $32.24 billion, a P/E ratio of 8.37 and a beta of 1.71.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.51 by $0.06. The firm earned $7.33 billion during the quarter, compared to the consensus estimate of $7.64 billion. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The firm’s revenue for the quarter was down 19.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 EPS. On average, analysts forecast that LyondellBasell Industries will post $9.61 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 16th were paid a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Friday, August 12th. LyondellBasell Industries’s payout ratio is currently 36.68%.
LYB has been the topic of a number of research analyst reports. Vetr upgraded LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $85.17 price target on the stock in a report on Monday, June 27th. JPMorgan Chase & Co. downgraded LyondellBasell Industries from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $100.00 to $80.00 in a report on Thursday, June 23rd. Deutsche Bank AG boosted their price target on LyondellBasell Industries from $80.00 to $83.00 and gave the company a “hold” rating in a report on Tuesday, September 13th. Cowen and Company downgraded LyondellBasell Industries from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $105.00 to $87.00 in a report on Monday, June 13th. Finally, Royal Bank Of Canada downgraded LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $100.00 to $84.00 in a report on Monday, June 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $88.57.
In other news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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