LyondellBasell Industries NV (LYB) Position Decreased by Franklin Resources Inc.
Franklin Resources Inc. reduced its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 754,558 shares of the specialty chemicals company’s stock after selling 6,629 shares during the period. Franklin Resources Inc.’s holdings in LyondellBasell Industries were worth $77,357,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Sun Life Financial INC boosted its holdings in LyondellBasell Industries by 843.4% in the second quarter. Sun Life Financial INC now owns 1,000 shares of the specialty chemicals company’s stock worth $110,000 after acquiring an additional 894 shares in the last quarter. Reilly Financial Advisors LLC boosted its holdings in LyondellBasell Industries by 504.6% in the third quarter. Reilly Financial Advisors LLC now owns 1,318 shares of the specialty chemicals company’s stock worth $135,000 after acquiring an additional 1,100 shares in the last quarter. CI Investments Inc. bought a new position in LyondellBasell Industries in the third quarter worth approximately $154,000. grace capital bought a new position in LyondellBasell Industries in the second quarter worth approximately $165,000. Finally, Rational Advisors LLC boosted its holdings in LyondellBasell Industries by 769.5% in the second quarter. Rational Advisors LLC now owns 1,626 shares of the specialty chemicals company’s stock worth $179,000 after acquiring an additional 1,439 shares in the last quarter. Institutional investors and hedge funds own 73.24% of the company’s stock.
Several research analysts have issued reports on LYB shares. Zacks Investment Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a report on Thursday, August 9th. Cowen raised 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. Citigroup raised their target price on LyondellBasell Industries from $122.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. JPMorgan Chase & Co. lowered LyondellBasell Industries from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $110.00 to $95.00 in a report on Wednesday, September 19th. Finally, BNP Paribas started coverage on LyondellBasell Industries in a report on Tuesday, October 2nd. They issued an “outperform” rating and a $129.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $116.88.
LYB stock opened at $90.57 on Thursday. LyondellBasell Industries NV has a twelve month low of $85.60 and a twelve month high of $121.95. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.09 and a current ratio of 1.82. The company has a market capitalization of $34.75 billion, a PE ratio of 8.85, a P/E/G ratio of 0.81 and a beta of 1.24.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 EPS for the quarter, topping the Zacks’ consensus estimate of $2.68 by $0.28. The business had revenue of $10.16 billion for the quarter, compared to analyst estimates of $9.95 billion. LyondellBasell Industries had a return on equity of 47.35% and a net margin of 15.01%. LyondellBasell Industries’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the company posted $2.67 earnings per share. Equities research analysts anticipate that LyondellBasell Industries NV will post 11.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 10th will be issued a dividend of $1.00 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. This represents a $4.00 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, December 7th. LyondellBasell Industries’s dividend payout ratio (DPR) is 39.10%.
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LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, 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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