Centre Asset Management LLC boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 42.8% during the first quarter, Holdings Channel.com reports. The firm owned 37,868 shares of the specialty chemicals company’s stock after acquiring an additional 11,347 shares during the period. Centre Asset Management LLC’s holdings in LyondellBasell Industries were worth $3,894,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in LYB. Core Wealth Advisors Inc. purchased a new stake in LyondellBasell Industries during the fourth quarter valued at $28,000. Newbridge Financial Services Group Inc. raised its stake in LyondellBasell Industries by 418.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 337 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 272 shares in the last quarter. Covestor Ltd purchased a new stake in LyondellBasell Industries during the fourth quarter valued at $31,000. EverSource Wealth Advisors LLC purchased a new stake in LyondellBasell Industries during the fourth quarter valued at $34,000. Finally, Industrial Alliance Investment Management Inc. purchased a new stake in LyondellBasell Industries during the fourth quarter valued at $35,000. 69.64% of the stock is currently owned by institutional investors.
A number of research analysts have weighed in on LYB shares. Bank of America cut their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating on the stock in a research report on Tuesday, June 14th. Mizuho increased their price target on shares of LyondellBasell Industries from $125.00 to $132.00 in a research report on Tuesday, May 3rd. Alembic Global Advisors downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $120.00 to $115.00 in a report on Tuesday, May 31st. BMO Capital Markets increased their price target on shares of LyondellBasell Industries from $108.00 to $128.00 in a report on Thursday, May 5th. Finally, Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $109.00 to $99.00 in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $114.75.
LyondellBasell Industries (NYSE:LYB – Get Rating) last announced its quarterly earnings data on Friday, April 29th. The specialty chemicals company reported $4.00 earnings per share for the quarter, topping analysts’ consensus estimates of $3.48 by $0.52. LyondellBasell Industries had a return on equity of 54.14% and a net margin of 11.68%. The firm had revenue of $13.16 billion for the quarter, compared to analyst estimates of $12.67 billion. During the same quarter in the prior year, the company posted $3.18 earnings per share. LyondellBasell Industries’s quarterly revenue was up 44.9% on a year-over-year basis. As a group, equities research analysts anticipate that LyondellBasell Industries will post 17.85 EPS for the current year.
The firm also recently disclosed a special dividend, which was paid on Monday, June 13th. Shareholders of record on Monday, June 6th were paid a dividend of $5.20 per share. The ex-dividend date of this dividend was Friday, June 3rd. This represents a yield of 4.2%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 27.11%.
In other news, Director Jagjeet S. Bindra sold 2,640 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the transaction, the director now owns 7,020 shares in the company, valued at approximately $782,308.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Michael C. Mcmurray sold 33,880 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the transaction, the chief financial officer now owns 39,612 shares of the company’s stock, valued at approximately $4,394,555.28. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.
LyondellBasell Industries Company Profile (Get Rating)
LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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