Rehmann Capital Advisory Group Sells 2,500 Shares of LyondellBasell Industries (LYB)
Rehmann Capital Advisory Group reduced its position in LyondellBasell Industries (NYSE:LYB) by 34.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,762 shares of the company’s stock after selling 2,500 shares during the period. Rehmann Capital Advisory Group’s holdings in LyondellBasell Industries were worth $354,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Sanders Morris Harris Inc. purchased a new position in shares of LyondellBasell Industries during the first quarter worth about $873,000. Glenmede Trust Co. NA boosted its stake in shares of LyondellBasell Industries by 16.6% in the first quarter. Glenmede Trust Co. NA now owns 820,174 shares of the company’s stock valued at $70,188,000 after buying an additional 116,695 shares during the last quarter. RDL Financial Inc. boosted its stake in shares of LyondellBasell Industries by 58.3% in the first quarter. RDL Financial Inc. now owns 21,503 shares of the company’s stock valued at $1,840,000 after buying an additional 7,919 shares during the last quarter. First Manhattan Co. boosted its stake in shares of LyondellBasell Industries by 4.5% in the first quarter. First Manhattan Co. now owns 91,240 shares of the company’s stock valued at $7,808,000 after buying an additional 3,950 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC boosted its stake in shares of LyondellBasell Industries by 219.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 9,582 shares of the company’s stock valued at $823,000 after buying an additional 6,581 shares during the last quarter. 68.63% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries (NYSE:LYB) traded down 1.15% on Tuesday, hitting $77.54. The stock had a trading volume of 2,835,725 shares. The company has a market cap of $32.24 billion, a P/E ratio of 8.37 and a beta of 1.71. LyondellBasell Industries has a 1-year low of $69.10 and a 1-year high of $98.25. The stock has a 50 day moving average price of $77.16 and a 200 day moving average price of $80.69.
LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 29th. The company reported $2.45 earnings per share for the quarter, missing analysts’ consensus estimates of $2.51 by $0.06. LyondellBasell Industries had a net margin of 13.91% and a return on equity of 66.25%. The company earned $7.33 billion during the quarter, compared to the consensus estimate of $7.64 billion. During the same period last year, the firm posted $2.81 EPS. The company’s revenue was down 19.9% on a year-over-year basis. On average, equities research analysts expect that LyondellBasell Industries will post $9.61 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 16th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Friday, August 12th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 36.68%.
Several equities research analysts have recently weighed in on the company. Cowen and Company cut LyondellBasell Industries from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $105.00 to $87.00 in a research note on Monday, June 13th. Morgan Stanley reissued a “buy” rating on shares of LyondellBasell Industries in a research note on Thursday, June 16th. Vetr cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price target for the company. in a research note on Monday, August 22nd. Jefferies Group reissued a “neutral” rating on shares of LyondellBasell Industries in a research note on Tuesday, September 6th. Finally, JPMorgan Chase & Co. cut LyondellBasell Industries from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $100.00 to $80.00 in a research note on Thursday, June 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $88.57.
In other news, Director Jagjeet S. Bindra sold 3,750 shares of the business’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total value of $300,037.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by insiders.
About LyondellBasell Industries
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.
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