Cubist Systematic Strategies LLC Has $1.50 Million Position in LyondellBasell Industries NV (LYB)
Cubist Systematic Strategies LLC increased its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 361.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,182 shares of the specialty chemicals company’s stock after purchasing an additional 11,892 shares during the period. Cubist Systematic Strategies LLC’s holdings in LyondellBasell Industries were worth $1,504,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. FMR LLC grew its stake in shares of LyondellBasell Industries by 2.8% during the second quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock worth $2,527,492,000 after purchasing an additional 821,391 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of LyondellBasell Industries by 2.0% during the second quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock worth $2,070,041,000 after purchasing an additional 473,129 shares in the last quarter. BlackRock Inc. grew its stake in shares of LyondellBasell Industries by 11.6% during the second quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock worth $1,889,470,000 after purchasing an additional 2,327,350 shares in the last quarter. Capital World Investors boosted its stake in LyondellBasell Industries by 23.0% in the second quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock valued at $1,650,846,000 after acquiring an additional 3,651,750 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in LyondellBasell Industries by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock valued at $652,840,000 after acquiring an additional 1,069,625 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total transaction of $163,271.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.
Several research firms have issued reports on LYB. Cowen restated a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries in a research note on Wednesday, October 4th. Morgan Stanley set a $115.00 price objective on shares of LyondellBasell Industries and gave the company a “buy” rating in a research note on Saturday, December 2nd. Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Thursday, October 12th. SunTrust Banks restated a “hold” rating and issued a $100.00 price objective on shares of LyondellBasell Industries in a research note on Wednesday, November 1st. Finally, Barclays upped their price objective on shares of LyondellBasell Industries from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $100.47.
Shares of LyondellBasell Industries NV (NYSE:LYB) opened at $106.03 on Friday. LyondellBasell Industries NV has a 12 month low of $78.01 and a 12 month high of $108.13. The firm has a market cap of $41,820.00, a PE ratio of 10.96, a PEG ratio of 1.18 and a beta of 1.07. The company has a current ratio of 2.40, a quick ratio of 1.49 and a debt-to-equity ratio of 1.16.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, December 5th were paid a dividend of $0.90 per share. The ex-dividend date of this dividend was Monday, December 4th. This represents a $3.60 annualized dividend and a dividend yield of 3.40%. LyondellBasell Industries’s dividend payout ratio (DPR) is 38.38%.
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About LyondellBasell Industries
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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