LyondellBasell Industries NV (NYSE:LYB) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $84.17 and last traded at $84.37, with a volume of 3949777 shares changing hands. The stock had previously closed at $88.23.
A number of research analysts have issued reports on LYB shares. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Cowen cut their price objective on LyondellBasell Industries from $113.00 to $103.00 and set a “market perform” rating for the company in a report on Friday, September 7th. Jefferies Financial Group reissued a “buy” rating on shares of LyondellBasell Industries in a report on Thursday, November 15th. JPMorgan Chase & Co. cut LyondellBasell Industries from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $110.00 to $95.00 in a report on Wednesday, September 19th. Finally, Alembic Global Advisors set a $120.00 price objective on LyondellBasell Industries and gave the company a “buy” rating in a report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company. LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $116.88.
The company has a market cap of $34.75 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 0.81 and a beta of 1.24. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.82 and a quick ratio of 1.09.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.68 by $0.28. LyondellBasell Industries had a return on equity of 47.35% and a net margin of 15.01%. The company had revenue of $10.16 billion during the quarter, compared to analyst estimates of $9.95 billion. During the same period last year, the company posted $2.67 earnings per share. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. On average, equities research analysts forecast that LyondellBasell Industries NV will post 11.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 10th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, December 7th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.00 dividend on an annualized basis and a dividend yield of 4.74%. LyondellBasell Industries’s dividend payout ratio (DPR) is 39.10%.
In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the stock in a transaction dated Thursday, December 6th. The stock was bought at an average cost of $88.63 per share, for a total transaction of $443,150.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ai Investments Holdings Llc bought 474,938 shares of the stock in a transaction dated Thursday, November 1st. The stock was acquired at an average price of $91.51 per share, with a total value of $43,461,576.38. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 4,401,236 shares of company stock valued at $418,531,263. 0.09% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Sun Life Financial INC increased its position in LyondellBasell Industries by 843.4% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the specialty chemicals company’s stock worth $110,000 after purchasing an additional 894 shares during the period. Reilly Financial Advisors LLC increased its position in LyondellBasell Industries by 504.6% in the third quarter. Reilly Financial Advisors LLC now owns 1,318 shares of the specialty chemicals company’s stock worth $135,000 after purchasing an additional 1,100 shares during the period. CI Investments Inc. acquired a new stake in LyondellBasell Industries in the third quarter worth about $154,000. grace capital acquired a new stake in LyondellBasell Industries in the second quarter worth about $165,000. Finally, Rational Advisors LLC increased its position in LyondellBasell Industries by 769.5% in the second quarter. Rational Advisors LLC now owns 1,626 shares of the specialty chemicals company’s stock worth $179,000 after purchasing an additional 1,439 shares during the period. Institutional investors own 73.24% of the company’s stock.
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About LyondellBasell Industries (NYSE:LYB)
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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