Todd Asset Management LLC Has $18.97 Million Position in LyondellBasell Industries NV (LYB)
Todd Asset Management LLC raised its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 10.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 224,838 shares of the specialty chemicals company’s stock after buying an additional 20,847 shares during the period. Todd Asset Management LLC owned 0.06% of LyondellBasell Industries NV worth $18,974,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Acadian Asset Management LLC boosted its stake in LyondellBasell Industries NV by 258.1% in the first quarter. Acadian Asset Management LLC now owns 28,327 shares of the specialty chemicals company’s stock worth $2,583,000 after buying an additional 20,417 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in LyondellBasell Industries NV by 27.6% in the first quarter. Russell Investments Group Ltd. now owns 251,318 shares of the specialty chemicals company’s stock worth $22,923,000 after buying an additional 54,351 shares in the last quarter. Jennison Associates LLC boosted its stake in 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. Tocqueville Asset Management L.P. boosted its stake 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 in the last quarter. Finally, Advisor Partners LLC boosted its stake in LyondellBasell Industries NV by 17.4% in the first quarter. Advisor Partners LLC now owns 5,075 shares of the specialty chemicals company’s stock worth $463,000 after buying an additional 754 shares in the last quarter. Institutional investors own 73.79% of the company’s stock.
Shares of LyondellBasell Industries NV (NYSE LYB) opened at 90.25 on Friday. The stock has a market cap of $35.72 billion, a price-to-earnings ratio of 10.08 and a beta of 1.04. The firm has a 50-day moving average price of $88.28 and a 200-day moving average price of $86.36. LyondellBasell Industries NV has a one year low of $74.02 and a one year high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last posted its earnings results on Friday, July 28th. The specialty chemicals company reported $2.82 EPS for the quarter, topping the consensus estimate of $2.68 by $0.14. LyondellBasell Industries NV had a net margin of 11.40% and a return on equity of 60.87%. The firm had revenue of $8.40 billion during the quarter, compared to analysts’ expectations of $8.52 billion. During the same quarter in the prior year, the firm earned $2.56 EPS. LyondellBasell Industries NV’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts anticipate that LyondellBasell Industries NV will post $9.89 earnings per share for the current fiscal year.
LyondellBasell Industries NV declared that its board has approved a stock repurchase program on Wednesday, May 24th that permits the company to repurchase 1,000% of shares. This repurchase authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
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 given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Friday, September 1st. LyondellBasell Industries NV’s dividend payout ratio (DPR) is 40.18%.
LYB has been the topic of a number of analyst reports. Bank of America Corporation cut LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and cut their price target for the company from $98.00 to $70.00 in a research note on Monday, May 8th. Vertical Research raised LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a report on Tuesday, May 9th. Jefferies Group LLC reaffirmed a “hold” rating and set a $88.00 price objective on shares of LyondellBasell Industries NV in a report on Friday, June 16th. UBS AG reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of LyondellBasell Industries NV in a report on Sunday, June 25th. Finally, HSBC Holdings plc initiated coverage on LyondellBasell Industries NV in a report on Monday, June 26th. They set a “buy” rating and a $101.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company presently 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 company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $89.20, for a total value 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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