Mediolanum International Funds Ltd Raises Holdings in LyondellBasell Industries N.V. $LYB

Mediolanum International Funds Ltd boosted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 27.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,031 shares of the specialty chemicals company’s stock after buying an additional 9,493 shares during the period. Mediolanum International Funds Ltd’s holdings in LyondellBasell Industries were worth $2,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Neo Ivy Capital Management purchased a new stake in shares of LyondellBasell Industries during the 2nd quarter worth $1,521,000. Swiss National Bank grew its stake in LyondellBasell Industries by 6.7% in the second quarter. Swiss National Bank now owns 782,100 shares of the specialty chemicals company’s stock valued at $45,252,000 after purchasing an additional 49,400 shares during the last quarter. Prudential PLC raised its holdings in LyondellBasell Industries by 188.6% in the second quarter. Prudential PLC now owns 9,204 shares of the specialty chemicals company’s stock worth $533,000 after purchasing an additional 6,015 shares in the last quarter. Ensign Peak Advisors Inc lifted its position in shares of LyondellBasell Industries by 7.2% during the second quarter. Ensign Peak Advisors Inc now owns 2,436,315 shares of the specialty chemicals company’s stock valued at $140,965,000 after buying an additional 163,711 shares during the last quarter. Finally, EMC Capital Management bought a new stake in shares of LyondellBasell Industries in the 2nd quarter valued at about $29,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kimberly A. Foley purchased 5,661 shares of the business’s stock in a transaction on Wednesday, November 12th. The shares were bought at an average cost of $43.56 per share, with a total value of $246,593.16. Following the transaction, the executive vice president owned 67,688 shares of the company’s stock, valued at approximately $2,948,489.28. This trade represents a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

LyondellBasell Industries Trading Up 5.3%

Shares of NYSE:LYB opened at $44.79 on Friday. The business has a 50-day moving average price of $47.09 and a 200-day moving average price of $54.08. The stock has a market cap of $14.42 billion, a price-to-earnings ratio of 58.17 and a beta of 0.87. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $85.25. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.21. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same period last year, the firm posted $1.88 EPS. LyondellBasell Industries’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Investors of record on Monday, December 1st will be given a dividend of $1.37 per share. The ex-dividend date is Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a yield of 12.2%. LyondellBasell Industries’s payout ratio is currently -146.13%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LYB. Citigroup reduced their price objective on shares of LyondellBasell Industries from $47.00 to $43.00 and set a “neutral” rating for the company in a research note on Wednesday. Wells Fargo & Company reduced their price target on LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, November 3rd. Royal Bank Of Canada lowered their price objective on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 5th. The Goldman Sachs Group dropped their target price on LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating on the stock in a research note on Friday, October 17th. Finally, Rothschild & Co Redburn decreased their price target on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.19.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.