LyondellBasell Industries NV (NYSE:LYB) major shareholder Ai Investments Holdings Llc purchased 764,501 shares of LyondellBasell Industries stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average price of $74.61 per share, with a total value of $57,039,419.61. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of NYSE LYB traded up $0.48 during midday trading on Friday, reaching $84.26. The company had a trading volume of 29,507 shares, compared to its average volume of 2,702,798. LyondellBasell Industries NV has a one year low of $68.61 and a one year high of $107.49. The company has a quick ratio of 0.85, a current ratio of 1.47 and a debt-to-equity ratio of 0.83. The firm’s fifty day moving average price is $76.95 and its 200-day moving average price is $83.46. The stock has a market cap of $28.25 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.92 and a beta of 1.31.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share for the quarter, missing analysts’ consensus estimates of $2.84 by ($0.09). The company had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.26 billion. LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. As a group, equities research analysts expect that LyondellBasell Industries NV will post 10.27 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Wednesday, September 4th were paid a dividend of $1.05 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.20 annualized dividend and a yield of 4.98%. LyondellBasell Industries’s dividend payout ratio is 37.27%.
LYB has been the subject of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on LyondellBasell Industries in a research report on Friday, July 19th. They set an “underweight” rating and a $80.00 target price for the company. Cowen reduced their target price on LyondellBasell Industries from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Monday, August 12th. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $77.00 target price for the company. in a research report on Tuesday, August 13th. Deutsche Bank cut LyondellBasell Industries from a “buy” rating to a “hold” rating and cut their price objective for the stock from $100.00 to $94.00 in a report on Monday, June 17th. Finally, UBS Group upped their price objective on LyondellBasell Industries from $86.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $102.18.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Preferred LLC acquired a new position in shares of LyondellBasell Industries in the second quarter worth about $25,000. Prestige Wealth Management Group LLC purchased a new stake in shares of LyondellBasell Industries in the second quarter valued at about $26,000. MUFG Americas Holdings Corp boosted its holdings in shares of LyondellBasell Industries by 80.8% in the second quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 147 shares in the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of LyondellBasell Industries in the first quarter valued at about $35,000. Finally, Reilly Financial Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 89.4% in the second quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
About LyondellBasell Industries
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.
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