Traders Sell LyondellBasell Industries NV (LYB) on Strength (LYB)
Traders sold shares of LyondellBasell Industries NV (NYSE:LYB) on strength during trading on Monday. $26.23 million flowed into the stock on the tick-up and $133.27 million flowed out of the stock on the tick-down, for a money net flow of $107.04 million out of the stock. Of all companies tracked, LyondellBasell Industries NV had the 8th highest net out-flow for the day. LyondellBasell Industries NV traded up $0.41 for the day and closed at $95.58
Several equities research analysts have weighed in on the company. UBS AG reaffirmed a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of LyondellBasell Industries NV in a research report on Sunday, June 25th. BidaskClub cut LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Jefferies Group LLC set a $88.00 target price on LyondellBasell Industries NV and gave the company a “hold” rating in a research report on Monday, August 21st. Deutsche Bank AG reiterated a “buy” rating and issued a $94.00 price objective (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $92.00 price objective on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. LyondellBasell Industries NV presently has a consensus rating of “Hold” and a consensus target price of $95.67.
The company’s 50 day moving average is $89.93 and its 200-day moving average is $86.35. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of 10.67 and a beta of 1.04.
LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.14. The business had revenue of $8.40 billion for the quarter, compared to the consensus estimate of $8.52 billion. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the firm posted $2.56 earnings per share. Equities research analysts predict that LyondellBasell Industries NV will post $9.89 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Friday, September 1st. LyondellBasell Industries NV’s payout ratio is presently 40.18%.
LyondellBasell Industries NV announced that its board has initiated a share buyback plan on Wednesday, May 24th that allows the company to repurchase 1,000% of shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of LyondellBasell Industries NV stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of the company. W. E. Donoghue & Co. LLC acquired a new position in LyondellBasell Industries NV during the 2nd quarter valued at $16,714,000. Intl Fcstone Inc. bought a new stake in LyondellBasell Industries NV in the 2nd quarter valued at $1,059,000. Navellier & Associates Inc bought a new stake in LyondellBasell Industries NV in the 2nd quarter valued at $436,000. WFG Advisors LP increased its holdings in LyondellBasell Industries NV by 66.4% in the 2nd quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock valued at $187,000 after buying an additional 883 shares during the period. Finally, Toronto Dominion Bank increased its holdings in LyondellBasell Industries NV by 26.5% in the 2nd quarter. Toronto Dominion Bank now owns 113,758 shares of the specialty chemicals company’s stock valued at $9,598,000 after buying an additional 23,857 shares during the period. Institutional investors and hedge funds own 73.81% of the company’s stock.
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About LyondellBasell Industries NV
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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