Luminus Management LLC Sells 10,885 Shares of LyondellBasell Industries NV (LYB)
Luminus Management LLC reduced its position in LyondellBasell Industries NV (NYSE:LYB) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 189,115 shares of the specialty chemicals company’s stock after selling 10,885 shares during the quarter. Luminus Management LLC’s holdings in LyondellBasell Industries were worth $20,774,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hudock Capital Group LLC raised its stake in LyondellBasell Industries by 151.6% in the 2nd quarter. Hudock Capital Group LLC now owns 916 shares of the specialty chemicals company’s stock valued at $100,000 after purchasing an additional 552 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings in LyondellBasell Industries by 138.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 984 shares of the specialty chemicals company’s stock valued at $104,000 after buying an additional 571 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in LyondellBasell Industries in the 1st quarter valued at $109,000. Atlas Capital Advisors LLC grew its holdings in LyondellBasell Industries by 192.2% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,005 shares of the specialty chemicals company’s stock valued at $109,000 after buying an additional 661 shares in the last quarter. Finally, Sun Life Financial INC grew its holdings in LyondellBasell Industries by 843.4% in the 2nd quarter. Sun Life Financial INC now owns 1,000 shares of the specialty chemicals company’s stock valued at $110,000 after buying an additional 894 shares in the last quarter. 72.68% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on the company. Zacks Investment Research cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Citigroup restated a “buy” rating and issued a $122.00 target price on shares of LyondellBasell Industries in a report on Tuesday, July 10th. Barclays restated a “buy” rating and issued a $135.00 target price on shares of LyondellBasell Industries in a report on Sunday, May 20th. BMO Capital Markets upped their target price on LyondellBasell Industries from $111.00 to $112.00 and gave the company a “market perform” rating in a report on Tuesday, August 7th. Finally, Cowen upped their target price on LyondellBasell Industries from $110.00 to $113.00 and gave the company a “market perform” rating in a report on Friday, August 10th. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $117.85.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, August 3rd. The specialty chemicals company reported $3.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.44. The business had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $9.11 billion. LyondellBasell Industries had a return on equity of 53.77% and a net margin of 15.51%. equities analysts expect that LyondellBasell Industries NV will post 11.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 12th. Stockholders of record on Wednesday, September 5th will be issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, September 4th. LyondellBasell Industries’s dividend payout ratio is presently 39.10%.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and Polyolefins?Americas; Olefins and Polyolefins?Europe, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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