Janney Capital Management LLC Cuts Stake in LyondellBasell Industries NV (LYB)
Janney Capital Management LLC lessened its holdings in LyondellBasell Industries NV (NYSE:LYB) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,584 shares of the specialty chemicals company’s stock after selling 1,232 shares during the period. Janney Capital Management LLC’s holdings in LyondellBasell Industries were worth $13,132,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its stake in shares of LyondellBasell Industries by 11.6% in the 2nd quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after acquiring an additional 2,327,350 shares during the period. U S Global Investors Inc. grew its holdings in LyondellBasell Industries by 40.0% during the 2nd quarter. U S Global Investors Inc. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after purchasing an additional 1,400 shares in the last quarter. Brookstone Capital Management grew its holdings in LyondellBasell Industries by 8.7% during the 2nd quarter. Brookstone Capital Management now owns 70,061 shares of the specialty chemicals company’s stock valued at $5,912,000 after purchasing an additional 5,624 shares in the last quarter. Ray Gerald L & Associates Ltd. grew its holdings in LyondellBasell Industries by 84.9% during the 2nd quarter. Ray Gerald L & Associates Ltd. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in LyondellBasell Industries during the 2nd quarter valued at $13,041,000. 74.29% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the stock. Jefferies Group set a $88.00 price target on shares of LyondellBasell Industries and gave the company a “hold” rating in a report on Monday, August 21st. Morgan Stanley set a $115.00 price target on shares of LyondellBasell Industries and gave the company a “buy” rating in a report on Saturday, December 2nd. SunTrust Banks reaffirmed a “hold” rating and set a $96.00 price target (up from $90.00) on shares of LyondellBasell Industries in a report on Saturday, September 30th. Cowen raised their price target on shares of LyondellBasell Industries from $90.00 to $95.00 and gave the company a “market perform” rating in a report on Monday, October 16th. Finally, Nomura reaffirmed a “hold” rating and set a $99.00 price target (up from $90.00) on shares of LyondellBasell Industries in a report on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $100.47.
Shares of LyondellBasell Industries NV (LYB) traded up $0.63 during mid-day trading on Monday, reaching $107.14. 1,720,700 shares of the company’s stock traded hands, compared to its average volume of 2,559,349. The firm has a market cap of $42,262.48, a price-to-earnings ratio of 11.08, a P/E/G ratio of 1.20 and a beta of 1.07. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.49 and a current ratio of 2.40. LyondellBasell Industries NV has a 52 week low of $78.01 and a 52 week high of $107.83.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.36%. The ex-dividend date is Monday, December 4th. LyondellBasell Industries’s dividend payout ratio is currently 38.59%.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 1,574 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total transaction of $163,271.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.
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LyondellBasell Industries Profile
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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