Intrepid Capital Management Inc. raised its position in LyondellBasell Industries (NYSE:LYB – Free Report) by 22.6% during the third quarter, HoldingsChannel reports. The firm owned 3,700 shares of the specialty chemicals company’s stock after purchasing an additional 681 shares during the period. Intrepid Capital Management Inc.’s holdings in LyondellBasell Industries were worth $355,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LYB. Charles Schwab Investment Management Inc. raised its holdings in shares of LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after acquiring an additional 362,671 shares during the period. Pacer Advisors Inc. increased its position in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the last quarter. Dimensional Fund Advisors LP grew its position in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after acquiring an additional 170,464 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in LyondellBasell Industries by 211.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after acquiring an additional 871,708 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after acquiring an additional 6,760 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.
Wall Street Analyst Weigh In
LYB has been the subject of several research reports. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler decreased their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.70.
LyondellBasell Industries Price Performance
LYB stock traded down $0.81 on Tuesday, reaching $81.24. The company had a trading volume of 282,149 shares, compared to its average volume of 1,902,749. LyondellBasell Industries has a 1 year low of $80.91 and a 1 year high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company’s fifty day moving average is $88.88 and its 200 day moving average is $93.62. The company has a market cap of $26.38 billion, a P/E ratio of 12.49, a PEG ratio of 2.33 and a beta of 1.05.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.46 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current year.
LyondellBasell Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.60%. LyondellBasell Industries’s payout ratio is 81.58%.
LyondellBasell Industries Company Profile
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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