Kempen Capital Management N.V. purchased a new stake in LyondellBasell Industries NV (NYSE:LYB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 417,318 shares of the specialty chemicals company’s stock, valued at approximately $35,218,000. LyondellBasell Industries NV makes up about 3.3% of Kempen Capital Management N.V.’s portfolio, making the stock its largest position. Kempen Capital Management N.V. owned about 0.11% of LyondellBasell Industries NV as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new position in LyondellBasell Industries NV in the 1st quarter valued at approximately $107,000. TrimTabs Asset Management LLC raised its holdings in LyondellBasell Industries NV by 89.1% in the 1st quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after acquiring an additional 640 shares in the last quarter. Point72 Asia Hong Kong Ltd acquired a new position in LyondellBasell Industries NV in the 1st quarter valued at approximately $132,000. American Beacon Advisors Inc. acquired a new position in LyondellBasell Industries NV in the 1st quarter valued at approximately $161,000. Finally, Seven Bridges Advisors LLC raised its holdings in LyondellBasell Industries NV by 32.8% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after acquiring an additional 478 shares in the last quarter. 73.82% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jagjeet S. Bindra sold 3,224 shares of LyondellBasell Industries NV stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by insiders.
LYB has been the subject of several recent research reports. HSBC Holdings plc initiated coverage on LyondellBasell Industries NV in a report on Monday, June 26th. They issued a “buy” rating and a $101.00 price target for the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 price target (up previously from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $92.00 price target on shares of LyondellBasell Industries NV in a report on Friday, July 14th. BidaskClub raised LyondellBasell Industries NV from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $88.00 price target on shares of LyondellBasell Industries NV in a report on Friday, June 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $95.67.
LyondellBasell Industries NV (LYB) traded up 0.78% during midday trading on Friday, hitting $95.17. The stock had a trading volume of 7,251,700 shares. LyondellBasell Industries NV has a 1-year low of $75.76 and a 1-year high of $97.64. The company has a market cap of $37.67 billion, a price-to-earnings ratio of 10.63 and a beta of 1.04. The company’s 50 day moving average is $89.93 and its 200 day moving average is $86.35.
LyondellBasell Industries NV (NYSE:LYB) last released its quarterly earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion during the quarter, compared to the consensus estimate of $8.52 billion. During the same period in the previous year, the business earned $2.56 earnings per share. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV announced that its board has authorized a share repurchase plan on Wednesday, May 24th that allows the company to repurchase 1,000% of shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Stockholders of record on Wednesday, September 6th were given a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.78%. LyondellBasell Industries NV’s payout ratio is 40.18%.
About LyondellBasell Industries NV
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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