Flippin Bruce & Porter Inc. increased its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 50.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,138 shares of the specialty chemicals company’s stock after buying an additional 25,863 shares during the period. Flippin Bruce & Porter Inc.’s holdings in LyondellBasell Industries NV were worth $6,510,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. raised its position in LyondellBasell Industries NV by 2.3% in the first quarter. Tocqueville Asset Management L.P. now owns 10,747 shares of the specialty chemicals company’s stock worth $980,000 after buying an additional 243 shares during the last quarter. Jennison Associates LLC raised its position in shares of LyondellBasell Industries NV by 19.6% in the first quarter. Jennison Associates LLC now owns 6,596 shares of the specialty chemicals company’s stock worth $601,000 after buying an additional 1,081 shares in the last quarter. Brookstone Capital Management raised its position in shares of LyondellBasell Industries NV by 11.5% in the first quarter. Brookstone Capital Management now owns 64,437 shares of the specialty chemicals company’s stock worth $5,876,000 after buying an additional 6,634 shares in the last quarter. Cadence Bank NA raised its position in shares of LyondellBasell Industries NV by 1.9% in the first quarter. Cadence Bank NA now owns 20,085 shares of the specialty chemicals company’s stock worth $1,831,000 after buying an additional 373 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of LyondellBasell Industries NV by 11.8% in the first quarter. Wells Fargo & Company MN now owns 1,699,664 shares of the specialty chemicals company’s stock worth $154,993,000 after buying an additional 178,739 shares in the last quarter. 73.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of LyondellBasell Industries NV (NYSE LYB) opened at 89.60 on Wednesday. The firm has a 50-day moving average price of $87.52 and a 200 day moving average price of $86.42. LyondellBasell Industries NV has a 12-month low of $74.02 and a 12-month high of $97.64. The firm has a market cap of $35.46 billion, a price-to-earnings ratio of 10.00 and a beta of 1.06.

LyondellBasell Industries NV (NYSE:LYB) last released its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.14. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. LyondellBasell Industries NV had a return on equity of 60.87% and a net margin of 11.40%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.56 EPS. On average, equities research analysts anticipate that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, September 1st. LyondellBasell Industries NV’s dividend payout ratio (DPR) is presently 40.18%.

LyondellBasell Industries NV declared that its board has initiated a share buyback program on Wednesday, May 24th that permits the company to buyback 1,000% of shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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A number of brokerages recently weighed in on LYB. Cowen and Company reaffirmed a “hold” rating and set a $90.00 price objective on shares of LyondellBasell Industries NV in a report on Monday. UBS AG reaffirmed a “neutral” rating and set a $88.00 price objective (up previously from $85.00) on shares of LyondellBasell Industries NV in a report on Monday, July 31st. BidaskClub lowered LyondellBasell Industries NV from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. 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 report on Monday, July 31st. Finally, Jefferies Group LLC set a $88.00 price objective on LyondellBasell Industries NV and gave the stock a “hold” rating in a report on Monday, August 21st. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. LyondellBasell Industries NV has an average rating of “Hold” and a consensus target price of $95.67.

In other LyondellBasell Industries NV news, Director Jagjeet S. Bindra sold 3,224 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $89.20, for a total transaction of $287,580.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

LyondellBasell Industries NV 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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Institutional Ownership by Quarter for LyondellBasell Industries NV (NYSE:LYB)

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