Brooklyn Investment Group Acquires New Holdings in LyondellBasell Industries (NYSE:LYB)

Brooklyn Investment Group acquired a new stake in shares of LyondellBasell Industries (NYSE:LYB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 627 shares of the specialty chemicals company’s stock, valued at approximately $60,000.

Several other institutional investors also recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in LyondellBasell Industries during the third quarter valued at approximately $3,168,000. Qsemble Capital Management LP purchased a new position in LyondellBasell Industries during the third quarter valued at approximately $4,792,000. Dynamic Technology Lab Private Ltd purchased a new position in LyondellBasell Industries during the third quarter valued at approximately $5,290,000. Daiwa Securities Group Inc. boosted its stake in LyondellBasell Industries by 12.2% in the third quarter. Daiwa Securities Group Inc. now owns 31,802 shares of the specialty chemicals company’s stock valued at $3,050,000 after acquiring an additional 3,453 shares in the last quarter. Finally, Marco Investment Management LLC boosted its stake in LyondellBasell Industries by 0.9% in the third quarter. Marco Investment Management LLC now owns 209,570 shares of the specialty chemicals company’s stock valued at $20,098,000 after acquiring an additional 1,885 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB opened at $83.04 on Friday. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02. The firm’s 50 day moving average price is $89.09 and its 200 day moving average price is $93.84. The company has a market cap of $26.97 billion, a P/E ratio of 12.64, a PEG ratio of 2.35 and a beta of 1.08. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the business earned $2.46 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LYB shares. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Finally, Mizuho decreased their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.70.

About LyondellBasell Industries

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.