LyondellBasell Industries N.V. $LYB Stake Boosted by Everstar Asset Management LLC

by · The Cerbat Gem

Everstar Asset Management LLC lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB – Free Report) by 134.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,070 shares of the specialty chemicals company’s stock after purchasing an additional 6,352 shares during the quarter. Everstar Asset Management LLC’s holdings in LyondellBasell Industries were worth $641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYB. Crews Bank & Trust lifted its stake in LyondellBasell Industries by 16.4% in the second quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock valued at $72,000 after buying an additional 175 shares during the last quarter. New York Life Investment Management LLC increased its holdings in shares of LyondellBasell Industries by 0.5% in the 2nd quarter. New York Life Investment Management LLC now owns 38,521 shares of the specialty chemicals company’s stock worth $2,229,000 after acquiring an additional 193 shares during the period. Central Pacific Bank Trust Division lifted its position in LyondellBasell Industries by 4.3% in the 2nd quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company’s stock valued at $279,000 after purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System boosted its stake in LyondellBasell Industries by 0.3% during the 2nd quarter. State of Michigan Retirement System now owns 78,165 shares of the specialty chemicals company’s stock valued at $4,523,000 after purchasing an additional 200 shares during the period. Finally, Horizon Investments LLC grew its position in LyondellBasell Industries by 2.5% in the 1st quarter. Horizon Investments LLC now owns 8,297 shares of the specialty chemicals company’s stock worth $584,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insider Activity

In related news, EVP Kimberly A. Foley acquired 5,661 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $43.56 per share, for a total transaction 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. The trade was a 9.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

LYB has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. Alembic Global Advisors upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, October 20th. Deutsche Bank Aktiengesellschaft lowered their price target on LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Royal Bank Of Canada reduced their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating for the company in a report on Tuesday, August 5th. Finally, Rothschild & Co Redburn lowered their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average price target of $56.19.

Get Our Latest Stock Analysis on LyondellBasell Industries

LyondellBasell Industries Price Performance

NYSE:LYB opened at $49.31 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The business’s 50-day moving average price is $46.60 and its 200 day moving average price is $53.68. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.46. The firm has a market cap of $15.87 billion, a P/E ratio of 64.03 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued its quarterly earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The company had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.41 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries’s revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.88 EPS. As a group, sell-side analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be given a $1.37 dividend. The ex-dividend date is Monday, December 1st. This represents a $5.48 annualized dividend and a yield of 11.1%. LyondellBasell Industries’s payout ratio is -146.13%.

LyondellBasell Industries Company Profile

(Free Report)

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.

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