Robeco Institutional Asset Management B.V. Acquires 37,972 Shares of LyondellBasell Industries (LYB)
Robeco Institutional Asset Management B.V. raised its position in shares of LyondellBasell Industries (NYSE:LYB) by 25.5% during the third quarter, Holdings Channel reports. The firm owned 186,721 shares of the company’s stock after buying an additional 37,972 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in LyondellBasell Industries were worth $15,060,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of LYB. Pinkerton Retirement Specialists LLC acquired a new stake in LyondellBasell Industries during the second quarter worth about $103,000. Americafirst Capital Management LLC acquired a new stake in LyondellBasell Industries during the second quarter worth about $106,000. Pacer Advisors Inc. increased its stake in LyondellBasell Industries by 321.5% in the second quarter. Pacer Advisors Inc. now owns 1,492 shares of the company’s stock worth $111,000 after buying an additional 1,138 shares during the period. Exane Derivatives increased its stake in LyondellBasell Industries by 103.6% in the second quarter. Exane Derivatives now owns 1,547 shares of the company’s stock worth $115,000 after buying an additional 787 shares during the period. Finally, J.Safra Asset Management Corp acquired a new stake in LyondellBasell Industries during the second quarter worth about $129,000. Institutional investors own 70.92% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) traded up 5.65% on Wednesday, reaching $88.45. The company had a trading volume of 2,797,792 shares. The stock has a market capitalization of $36.05 billion, a P/E ratio of 9.84 and a beta of 1.13. The stock’s 50-day moving average price is $81.45 and its 200-day moving average price is $79.07. LyondellBasell Industries has a 12-month low of $69.10 and a 12-month high of $97.20.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Tuesday, November 1st. The company reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by $0.01. LyondellBasell Industries had a net margin of 13.57% and a return on equity of 64.02%. The business had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.48 billion. During the same period in the prior year, the business earned $2.80 earnings per share. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, equities research analysts anticipate that LyondellBasell Industries will post $9.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 13th. Stockholders of record on Tuesday, November 29th will be given a dividend of $0.85 per share. The ex-dividend date of this dividend is Friday, November 25th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $3.40 annualized dividend and a dividend yield of 4.06%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 37.74%.
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LYB has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Wednesday, October 5th. Susquehanna lowered their target price on shares of LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating on the stock in a report on Friday, August 26th. RBC Capital Markets restated a “hold” rating and set a $82.00 target price on shares of LyondellBasell Industries in a report on Tuesday, September 20th. Vetr downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 target price on the stock. in a report on Monday, August 22nd. Finally, Tudor Pickering initiated coverage on shares of LyondellBasell Industries in a report on Thursday, October 13th. They set a “buy” rating and a $95.00 target price on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $89.47.
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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