Nomura Asset Management Co. Ltd. raised its position in shares of LyondellBasell (NYSE:LYB) by 7.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 108,924 shares of the specialty chemicals company’s stock after buying an additional 7,608 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in LyondellBasell were worth $11,512,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. BB&T Securities LLC lifted its stake in LyondellBasell by 128.7% during the first quarter. BB&T Securities LLC now owns 37,982 shares of the specialty chemicals company’s stock valued at $4,013,000 after buying an additional 21,375 shares in the last quarter. Institutional & Family Asset Management LLC purchased a new stake in shares of LyondellBasell in the first quarter worth approximately $137,000. Principal Financial Group Inc. lifted its position in shares of LyondellBasell by 0.7% in the first quarter. Principal Financial Group Inc. now owns 505,731 shares of the specialty chemicals company’s stock worth $53,445,000 after purchasing an additional 3,539 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in shares of LyondellBasell by 0.9% in the first quarter. Asset Management One Co. Ltd. now owns 516,497 shares of the specialty chemicals company’s stock worth $54,583,000 after purchasing an additional 4,509 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in shares of LyondellBasell by 19.3% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 153,200 shares of the specialty chemicals company’s stock worth $16,190,000 after purchasing an additional 24,739 shares in the last quarter. 73.57% of the stock is owned by institutional investors.
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Shares of LyondellBasell opened at $118.04 on Thursday, MarketBeat reports. LyondellBasell has a 12 month low of $78.88 and a 12 month high of $121.95. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.70 and a current ratio of 2.62. The company has a market cap of $45.26 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.15 and a beta of 1.09.
LyondellBasell (NYSE:LYB) last announced its quarterly earnings results on Friday, April 27th. The specialty chemicals company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.80 by $0.31. LyondellBasell had a return on equity of 53.55% and a net margin of 14.83%. The company had revenue of $9.77 billion for the quarter, compared to the consensus estimate of $9.43 billion. During the same quarter last year, the company posted $1.98 earnings per share. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. sell-side analysts anticipate that LyondellBasell will post 11.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 18th. Shareholders of record on Monday, June 11th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, June 8th. This is an increase from LyondellBasell’s previous quarterly dividend of $0.78. LyondellBasell’s dividend payout ratio (DPR) is 39.10%.
A number of research firms have recently issued reports on LYB. Barclays reissued a “buy” rating and issued a $135.00 price target on shares of LyondellBasell in a research report on Sunday, May 20th. Zacks Investment Research raised shares of LyondellBasell from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Morgan Stanley set a $130.00 price objective on shares of LyondellBasell and gave the company a “buy” rating in a research report on Friday, February 16th. MED reaffirmed a “buy” rating and set a $140.00 price objective on shares of LyondellBasell in a research report on Monday, May 7th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $130.00 price objective (up previously from $125.00) on shares of LyondellBasell in a research report on Wednesday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $116.56.
LyondellBasell Company 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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