Credit Suisse AG lowered its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 966,742 shares of the specialty chemicals company’s stock after selling 9,026 shares during the period. Credit Suisse AG’s holdings in LyondellBasell Industries NV were worth $88,157,000 as of its most recent filing with the SEC.
Other large investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC increased its position in shares of LyondellBasell Industries NV by 6.1% in the first quarter. Manning & Napier Advisors LLC now owns 67,713 shares of the specialty chemicals company’s stock valued at $6,174,000 after buying an additional 3,864 shares during the last quarter. Chevy Chase Trust Holdings Inc. increased its position in shares of LyondellBasell Industries NV by 1.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 286,051 shares of the specialty chemicals company’s stock valued at $26,085,000 after buying an additional 5,292 shares during the last quarter. Franklin Street Advisors Inc. NC increased its position in shares of LyondellBasell Industries NV by 532.9% in the first quarter. Franklin Street Advisors Inc. NC now owns 69,742 shares of the specialty chemicals company’s stock valued at $6,360,000 after buying an additional 58,722 shares during the last quarter. Searle & CO. bought a new position in shares of LyondellBasell Industries NV during the fourth quarter valued at approximately $540,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of LyondellBasell Industries NV during the fourth quarter valued at approximately $928,000. 74.20% of the stock is currently owned by institutional investors.
LyondellBasell Industries NV (LYB) opened at 83.93 on Monday. The firm has a market cap of $33.81 billion, a P/E ratio of 9.61 and a beta of 1.05. The firm’s 50-day moving average price is $80.93 and its 200-day moving average price is $87.21. LyondellBasell Industries NV has a 1-year low of $71.55 and a 1-year high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Friday, April 28th. The specialty chemicals company reported $2.00 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.36 by $0.36. LyondellBasell Industries NV had a net margin of 11.67% and a return on equity of 60.80%. The business had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same period in the prior year, the business posted $2.48 EPS. LyondellBasell Industries NV’s revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts anticipate that LyondellBasell Industries NV will post $9.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, June 12th. Shareholders of record on Monday, June 5th were paid a dividend of $0.90 per share. This is an increase from LyondellBasell Industries NV’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.29%. LyondellBasell Industries NV’s dividend payout ratio (DPR) is currently 41.33%.
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LYB has been the topic of several recent research reports. Bank of America Corporation downgraded LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their target price for the stock from $98.00 to $70.00 in a report on Monday, May 8th. Vertical Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a research report on Tuesday, May 9th. Instinet lowered their price objective on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating for the company in a research report on Monday, May 1st. Jefferies Group LLC reissued a “hold” rating and issued a $88.00 price objective on shares of LyondellBasell Industries NV in a research report on Friday, June 16th. Finally, BidaskClub raised LyondellBasell Industries NV from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. LyondellBasell Industries NV has an average rating of “Hold” and an average price target of $93.22.
LyondellBasell Industries NV Company Profile
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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