374,000 Shares in LyondellBasell Industries NV (LYB) Purchased by Renaissance Technologies LLC
Renaissance Technologies LLC purchased a new stake in LyondellBasell Industries NV (NYSE:LYB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 374,000 shares of the specialty chemicals company’s stock, valued at approximately $31,562,000. Renaissance Technologies LLC owned 0.09% of LyondellBasell Industries NV as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of LyondellBasell Industries NV by 11.6% in the 2nd quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock valued at $1,889,470,000 after purchasing an additional 2,327,350 shares during the period. FMR LLC lifted its stake in shares of LyondellBasell Industries NV by 20.7% in the 1st quarter. FMR LLC now owns 29,128,736 shares of the specialty chemicals company’s stock valued at $2,656,249,000 after purchasing an additional 4,990,465 shares during the period. Brookstone Capital Management lifted its stake in shares of LyondellBasell Industries NV by 8.7% in the 2nd 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 during the period. Ray Gerald L & Associates Ltd. lifted its stake in shares of LyondellBasell Industries NV by 84.9% in the 2nd 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 during the period. Finally, Artemis Investment Management LLP acquired a new position in shares of LyondellBasell Industries NV in the 2nd quarter valued at $13,041,000. 73.81% of the stock is currently owned by institutional investors.
In related news, Director Jagjeet S. Bindra sold 3,224 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value of $287,580.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.09% of the company’s stock.
Several analysts recently commented on LYB shares. Deutsche Bank AG reaffirmed a “buy” rating and set a $94.00 price objective (up previously from $90.00) on shares of LyondellBasell Industries NV in a research note on Monday, July 31st. Cowen and Company reiterated a “hold” rating and set a $90.00 target price on shares of LyondellBasell Industries NV in a report on Wednesday. UBS AG reiterated a “neutral” rating and set a $85.00 target price (down previously from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. HSBC Holdings plc began coverage on LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 target price for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $92.00 target price on shares of LyondellBasell Industries NV in a report on Friday, July 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $94.33.
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LyondellBasell Industries NV (NYSE:LYB) opened at 99.48 on Friday. LyondellBasell Industries NV has a one year low of $76.71 and a one year high of $100.74. The company has a market cap of $39.37 billion, a PE ratio of 11.11 and a beta of 1.04. The stock has a 50 day moving average price of $93.80 and a 200 day moving average price of $87.10.
LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $8.52 billion. During the same quarter in the prior year, the business posted $2.56 EPS. The firm’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate that LyondellBasell Industries NV will post $9.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 13th. Investors of record on Wednesday, September 6th were issued a $0.90 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.62%. LyondellBasell Industries NV’s dividend payout ratio is presently 40.18%.
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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