Point72 Asset Management L.P. lifted its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 205.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,000 shares of the specialty chemicals company’s stock after acquiring an additional 175,000 shares during the quarter. Point72 Asset Management L.P. owned 0.07% of LyondellBasell Industries worth $25,753,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of the stock. BDO Wealth Advisors LLC grew its holdings in LyondellBasell Industries by 64.5% during the third quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock valued at $177,000 after purchasing an additional 700 shares during the period. WESPAC Advisors SoCal LLC grew its holdings in LyondellBasell Industries by 4.9% during the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock valued at $179,000 after purchasing an additional 100 shares during the period. WFG Advisors LP grew its holdings in LyondellBasell Industries by 66.4% during the second quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock valued at $187,000 after purchasing an additional 883 shares during the period. HighVista Strategies LLC bought a new position in LyondellBasell Industries during the second quarter valued at $203,000. Finally, Vicus Capital bought a new position in LyondellBasell Industries during the third quarter valued at $203,000. 74.29% of the stock is owned by institutional investors.
Several brokerages have weighed in on LYB. Morgan Stanley set a $115.00 price objective on LyondellBasell Industries and gave the company a “buy” rating in a report on Saturday, December 2nd. SunTrust Banks reissued a “hold” rating and set a $100.00 price objective on shares of LyondellBasell Industries in a report on Wednesday, November 1st. Barclays increased their price objective on LyondellBasell Industries from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. Zacks Investment Research lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Finally, Royal Bank of Canada increased their price objective on LyondellBasell Industries from $102.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $100.47.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by company insiders.
LyondellBasell Industries NV (NYSE LYB) traded up $0.51 during trading on Thursday, hitting $107.50. The stock had a trading volume of 2,463,100 shares, compared to its average volume of 2,554,067. LyondellBasell Industries NV has a 52-week low of $78.01 and a 52-week high of $108.13. The company has a quick ratio of 1.49, a current ratio of 2.40 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $42,400.00, a price-to-earnings ratio of 11.06, a P/E/G ratio of 1.19 and a beta of 1.07.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, December 5th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, December 4th. LyondellBasell Industries’s payout ratio is currently 38.38%.
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LyondellBasell Industries 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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