Brinker Capital Investments LLC bought a new stake in LyondellBasell Industries (NYSE:LYB – Get Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 22,059 shares of the specialty chemicals company's stock, valued at approximately $1,929,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Blair William & Co. IL grew its stake in LyondellBasell Industries by 4.0% in the fourth quarter. Blair William & Co. IL now owns 10,705 shares of the specialty chemicals company's stock valued at $987,000 after purchasing an additional 412 shares during the last quarter. Commerce Bank boosted its holdings in LyondellBasell Industries by 267.9% in the fourth quarter. Commerce Bank now owns 42,738 shares of the specialty chemicals company's stock worth $3,941,000 after acquiring an additional 31,121 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in LyondellBasell Industries in the fourth quarter worth about $11,199,000. Adage Capital Partners GP L.L.C. boosted its holdings in LyondellBasell Industries by 25.2% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 330,100 shares of the specialty chemicals company's stock worth $30,445,000 after acquiring an additional 66,500 shares in the last quarter. Finally, Dodge & Cox boosted its holdings in LyondellBasell Industries by 31.0% in the fourth quarter. Dodge & Cox now owns 2,740,531 shares of the specialty chemicals company's stock worth $252,759,000 after acquiring an additional 649,300 shares in the last quarter. Hedge funds and other institutional investors own 70.07% of the company's stock.
Get LyondellBasell Industries alerts:LyondellBasell Industries Stock Up 0.6 %
LyondellBasell Industries stock opened at $75.28 on Friday. The stock has a market capitalization of $24.56 billion, a PE ratio of 4.59, a price-to-earnings-growth ratio of 0.60 and a beta of 1.27. LyondellBasell Industries has a 12 month low of $71.46 and a 12 month high of $117.22. The business has a 50 day simple moving average of $83.77 and a 200-day simple moving average of $95.18. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01.
LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, beating analysts' consensus estimates of $4.97 by $0.22. The business had revenue of $14.84 billion during the quarter, compared to analysts' expectations of $13.70 billion. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. The business's revenue was up 28.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.13 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 15.65 EPS for the current fiscal year.LyondellBasell Industries Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, August 26th. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.32%. LyondellBasell Industries's payout ratio is 29.01%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on LYB. JPMorgan Chase & Co. downgraded LyondellBasell Industries from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $115.00 to $80.00 in a report on Friday, September 2nd. Morgan Stanley lowered their price target on LyondellBasell Industries from $127.00 to $115.00 and set an "overweight" rating for the company in a report on Tuesday, August 2nd. Piper Sandler decreased their target price on LyondellBasell Industries from $115.00 to $98.00 in a report on Monday, July 25th. Jefferies Financial Group decreased their target price on LyondellBasell Industries from $135.00 to $117.00 in a report on Thursday, June 16th. Finally, Vertical Research downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating and set a $96.00 target price for the company. in a report on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $101.45.
About LyondellBasell Industries
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LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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