Wellington Management Group LLP Trims Holdings in LyondellBasell Industries N.V. $LYB

Wellington Management Group LLP decreased its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 59.8% during the second quarter, Holdings Channel.com reports. The fund owned 34,054 shares of the specialty chemicals company’s stock after selling 50,591 shares during the quarter. Wellington Management Group LLP’s holdings in LyondellBasell Industries were worth $1,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of LyondellBasell Industries by 108.7% in the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after purchasing an additional 4,770,260 shares in the last quarter. BlackRock Inc. lifted its stake in shares of LyondellBasell Industries by 16.7% during the 2nd quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock valued at $1,542,585,000 after buying an additional 4,185,571 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of LyondellBasell Industries by 512.9% during the 4th quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company’s stock valued at $133,941,000 after buying an additional 2,588,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in LyondellBasell Industries by 5,451.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,591 shares of the specialty chemicals company’s stock worth $63,114,000 after buying an additional 1,431,334 shares during the period. Finally, Morgan Stanley increased its stake in LyondellBasell Industries by 16.9% in the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after buying an additional 1,300,271 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 0.3%

LYB opened at $64.33 on Friday. The firm has a 50-day simple moving average of $61.52 and a two-hundred day simple moving average of $66.00. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The company has a market capitalization of $20.78 billion, a PE ratio of -56.93, a price-to-earnings-growth ratio of 0.18 and a beta of 0.31. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The business’s revenue was up 19.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. Analysts forecast that LyondellBasell Industries N.V. will post 9.2 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have commented on LYB. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $80.00 to $98.00 in a report on Thursday, May 28th. Bank of America cut their target price on LyondellBasell Industries from $68.00 to $48.00 and set an “underperform” rating for the company in a research report on Tuesday, June 30th. Zacks Research downgraded LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 1st. BMO Capital Markets boosted their price target on LyondellBasell Industries from $64.00 to $68.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $80.00 in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $72.56.

LyondellBasell Industries Company Profile

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.