LyondellBasell Industries N.V. $LYB Shares Purchased by Bruce & Co. Inc.

Bruce & Co. Inc. increased its stake in shares of LyondellBasell Industries N.V. (NYSE:LYBFree Report) by 50.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 60,000 shares of the specialty chemicals company’s stock after purchasing an additional 20,000 shares during the period. LyondellBasell Industries makes up approximately 0.9% of Bruce & Co. Inc.’s investment portfolio, making the stock its 24th largest position. Bruce & Co. Inc.’s holdings in LyondellBasell Industries were worth $2,942,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. lifted its stake in LyondellBasell Industries by 62.2% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock worth $2,583,000 after acquiring an additional 16,234 shares in the last quarter. Kingsview Wealth Management LLC grew its position in LyondellBasell Industries by 375.1% in the 2nd quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock valued at $1,042,000 after acquiring an additional 14,217 shares in the last quarter. Hosking Partners LLP increased its stake in LyondellBasell Industries by 33.3% during the third quarter. Hosking Partners LLP now owns 595,587 shares of the specialty chemicals company’s stock worth $29,208,000 after purchasing an additional 148,673 shares during the period. Norges Bank purchased a new stake in LyondellBasell Industries during the second quarter worth about $280,000,000. Finally, Capital World Investors lifted its position in shares of LyondellBasell Industries by 13.1% during the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after purchasing an additional 1,135,258 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Trending Headlines about LyondellBasell Industries

Here are the key news stories impacting LyondellBasell Industries this week:

LyondellBasell Industries Trading Up 10.5%

NYSE LYB opened at $74.43 on Friday. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $75.62. The firm has a 50 day moving average of $54.87 and a two-hundred day moving average of $50.15. The company has a quick ratio of 1.20, a current ratio of 1.77 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $23.98 billion, a PE ratio of -31.94, a price-to-earnings-growth ratio of 0.57 and a beta of 0.64.

LyondellBasell Industries (NYSE:LYBGet Free Report) last announced its quarterly earnings data on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.44). The firm had revenue of $7.09 billion during the quarter, compared to analyst estimates of $6.82 billion. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. LyondellBasell Industries’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 earnings per share. As a group, research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 9th. Shareholders of record on Monday, March 2nd were issued a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s payout ratio is -118.45%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LYB. Wolfe Research lowered their price objective on shares of LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating for the company in a research note on Monday, February 2nd. BMO Capital Markets upgraded shares of LyondellBasell Industries from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $38.00 to $68.00 in a report on Thursday, March 5th. Zacks Research upgraded shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Mizuho upped their price objective on LyondellBasell Industries from $49.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Finally, Fermium Researc upgraded LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.61.

Get Our Latest Report on LyondellBasell Industries

Insider Transactions at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the completion of the transaction, the insider directly owned 5,270,918 shares of the company’s stock, valued at approximately $359,107,643.34. This represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

LyondellBasell Industries Company Profile

(Free Report)

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

Read More

Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.