A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 205.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after buying an additional 2,995,335 shares in the last quarter. Prudential Financial Inc. increased its stake in LyondellBasell Industries by 171.0% during the third quarter. Prudential Financial Inc. now owns 1,348,644 shares of the specialty chemicals company’s stock valued at $101,525,000 after purchasing an additional 851,055 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of LyondellBasell Industries by 163.8% during the third quarter. Alliancebernstein L.P. now owns 1,231,389 shares of the specialty chemicals company’s stock worth $92,699,000 after purchasing an additional 764,671 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of LyondellBasell Industries by 139.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,306,806 shares of the specialty chemicals company’s stock worth $98,377,000 after buying an additional 762,051 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of LyondellBasell Industries by 39.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,576,479 shares of the specialty chemicals company’s stock valued at $213,925,000 after buying an additional 730,986 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.
LyondellBasell Industries Price Performance
LYB stock traded down $3.39 during trading hours on Tuesday, hitting $90.13. 375,045 shares of the stock traded hands, compared to its average volume of 2,080,100. The stock has a 50-day simple moving average of $92.69 and a 200 day simple moving average of $89.08. The company has a market cap of $29.33 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.27 and a beta of 1.21. LyondellBasell Industries has a one year low of $71.46 and a one year high of $117.22. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83.
LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.70. LyondellBasell Industries had a net margin of 7.71% and a return on equity of 32.96%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the firm posted $4.00 EPS. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. Equities analysts forecast that LyondellBasell Industries will post 9.01 earnings per share for the current year.
LyondellBasell Industries Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, March 6th were issued a $1.19 dividend. The ex-dividend date was Friday, March 3rd. This represents a $4.76 annualized dividend and a dividend yield of 5.28%. LyondellBasell Industries’s dividend payout ratio is currently 51.52%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on LYB. KeyCorp raised their target price on shares of LyondellBasell Industries from $74.00 to $84.00 and gave the stock an “underweight” rating in a report on Tuesday, April 11th. StockNews.com began coverage on LyondellBasell Industries in a research note on Thursday, March 16th. They set a “hold” rating for the company. Piper Sandler raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $118.00 price target for the company in a report on Tuesday, April 11th. Wells Fargo & Company upped their price target on shares of LyondellBasell Industries from $97.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, Jefferies Financial Group downgraded shares of LyondellBasell Industries…
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