Saudi Central Bank Raises Position in LyondellBasell Industries N.V. $LYB

Saudi Central Bank raised its position in LyondellBasell Industries N.V. (NYSE:LYB) by 89.8% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 18,042 shares of the specialty chemicals company’s stock after acquiring an additional 8,537 shares during the quarter. Saudi Central Bank’s holdings in LyondellBasell Industries were worth $950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AlphaGrep UK Ltd acquired a new stake in LyondellBasell Industries during the second quarter worth about $326,000. BAM Wealth Management LLC raised its position in shares of LyondellBasell Industries by 21.9% during the 2nd quarter. BAM Wealth Management LLC now owns 5,962 shares of the specialty chemicals company’s stock valued at $314,000 after buying an additional 1,070 shares during the period. Raiffeisen Bank International AG lifted its holdings in LyondellBasell Industries by 2,925.3% in the second quarter. Raiffeisen Bank International AG now owns 11,466 shares of the specialty chemicals company’s stock valued at $615,000 after acquiring an additional 11,087 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in LyondellBasell Industries by 4.1% in the second quarter. Concurrent Investment Advisors LLC now owns 16,154 shares of the specialty chemicals company’s stock worth $851,000 after acquiring an additional 634 shares during the period. Finally, NEOS Investment Management LLC increased its stake in LyondellBasell Industries by 13.2% during the second quarter. NEOS Investment Management LLC now owns 41,988 shares of the specialty chemicals company’s stock worth $2,211,000 after acquiring an additional 4,911 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 0.0%

Shares of NYSE:LYB opened at $64.61 on Thursday. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The firm’s 50 day moving average price is $61.30 and its 200 day moving average price is $65.95. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. The stock has a market cap of $20.87 billion, a price-to-earnings ratio of -57.18, a price-to-earnings-growth ratio of 0.18 and a beta of 0.31.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $9.21 billion. During the same period last year, the business earned $0.62 EPS. The company’s revenue was up 19.8% on a year-over-year basis. As a group, equities research analysts predict that LyondellBasell Industries N.V. will post 9.2 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYB. Wall Street Zen downgraded LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 5th. Evercore increased their target price on shares of LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. Mizuho boosted their target price on LyondellBasell Industries from $62.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Alembic Global Advisors dropped their price objective on LyondellBasell Industries from $95.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $80.00 to $98.00 in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $72.56.

About LyondellBasell Industries

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.