Jennison Associates LLC cut its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 58.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,382 shares of the specialty chemicals company’s stock after selling 17,079 shares during the quarter. Jennison Associates LLC’s holdings in LyondellBasell Industries NV were worth $1,226,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of LyondellBasell Industries NV by 11.6% during the second quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock worth $1,889,470,000 after buying an additional 2,327,350 shares in the last quarter. U S Global Investors Inc. boosted its holdings in LyondellBasell Industries NV by 40.0% in the second quarter. U S Global Investors Inc. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after purchasing an additional 1,400 shares in the last quarter. Brookstone Capital Management boosted its holdings in LyondellBasell Industries NV by 8.7% in the second quarter. Brookstone Capital Management now owns 70,061 shares of the specialty chemicals company’s stock valued at $5,912,000 after purchasing an additional 5,624 shares in the last quarter. Ray Gerald L & Associates Ltd. boosted its holdings in LyondellBasell Industries NV by 84.9% in the second quarter. Ray Gerald L & Associates Ltd. now owns 4,900 shares of the specialty chemicals company’s stock valued at $414,000 after purchasing an additional 2,250 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new position in LyondellBasell Industries NV in the second quarter valued at approximately $13,041,000. 74.91% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $94.00 price target (up from $90.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. Cowen and Company reaffirmed a “hold” rating and issued a $90.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, October 4th. Zacks Investment Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Thursday, October 12th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $100.00 price target on shares of LyondellBasell Industries NV in a report on Wednesday, November 1st. Finally, Barclays PLC upped their price target on LyondellBasell Industries NV from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $99.56.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total transaction of $163,271.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.
Shares of LyondellBasell Industries NV (NYSE:LYB) opened at $103.90 on Monday. The company has a quick ratio of 1.49, a current ratio of 2.40 and a debt-to-equity ratio of 1.16. LyondellBasell Industries NV has a 52 week low of $78.01 and a 52 week high of $107.83. The firm has a market capitalization of $40,980.00, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.16 and a beta of 1.08.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, December 5th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Monday, December 4th. LyondellBasell Industries NV’s dividend payout ratio (DPR) is presently 38.38%.
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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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