LyondellBasell Industries (LYB) Position Reduced by Standard Life Investments LTD
Standard Life Investments LTD decreased its position in LyondellBasell Industries (NYSE:LYB) by 15.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 851,089 shares of the company’s stock after selling 154,724 shares during the period. Standard Life Investments LTD’s holdings in LyondellBasell Industries were worth $63,346,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Ngam Advisors L.P. increased its stake in shares of LyondellBasell Industries by 4.3% in the first quarter. Ngam Advisors L.P. now owns 25,379 shares of the company’s stock worth $2,172,000 after buying an additional 1,045 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of LyondellBasell Industries by 3.8% in the first quarter. Teachers Advisors Inc. now owns 698,608 shares of the company’s stock worth $59,787,000 after buying an additional 25,731 shares in the last quarter. Franklin Resources Inc. increased its stake 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. Massmutual Trust Co. FSB ADV increased its stake in shares of LyondellBasell Industries by 133,735.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 22,752 shares of the company’s stock worth $1,947,000 after buying an additional 22,735 shares in the last quarter. Finally, Columbia Partners L L C Investment Management increased its stake in shares of LyondellBasell Industries by 1.1% in the first quarter. Columbia Partners L L C Investment Management now owns 12,098 shares of the company’s stock worth $1,035,000 after buying an additional 127 shares in the last quarter. 71.62% of the stock is currently owned by institutional investors and hedge funds.
LyondellBasell Industries (NYSE:LYB) traded up 1.87% on Wednesday, hitting $81.33. The stock had a trading volume of 3,249,662 shares. LyondellBasell Industries has a 52-week low of $69.10 and a 52-week high of $98.25. The stock’s 50-day moving average is $78.47 and its 200-day moving average is $80.25. The company has a market cap of $33.81 billion, a P/E ratio of 8.78 and a beta of 1.46.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 29th. The company reported $2.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.51 by $0.06. LyondellBasell Industries had a return on equity of 66.25% and a net margin of 13.91%. The company earned $7.33 billion during the quarter, compared to analysts’ expectations of $7.64 billion. During the same quarter last year, the firm posted $2.81 earnings per share. The firm’s revenue was down 19.9% on a year-over-year basis. Analysts expect that LyondellBasell Industries will post $9.61 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 16th were given a $0.85 dividend. The ex-dividend date was Friday, August 12th. This represents a $3.40 annualized dividend and a yield of 4.18%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 36.68%.
A number of equities research analysts recently issued reports on LYB shares. Cowen and Company downgraded LyondellBasell Industries from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $105.00 to $87.00 in a research report on Monday, June 13th. Morgan Stanley reaffirmed a “buy” rating on shares of LyondellBasell Industries in a report on Thursday, June 16th. JPMorgan Chase & Co. downgraded LyondellBasell Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $100.00 to $80.00 in a report on Thursday, June 23rd. Vetr raised LyondellBasell Industries from a “buy” rating to a “strong-buy” rating and set a $85.17 target price on the stock in a report on Monday, June 27th. Finally, Royal Bank Of Canada downgraded LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $100.00 to $84.00 in a report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $89.87.
In related news, Director Jagjeet S. Bindra sold 3,750 shares of the company’s stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $80.01, for a total value of $300,037.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.
About LyondellBasell Industries
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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