Burney Co. Raises Stake in LyondellBasell Industries NV (LYB)
Burney Co. boosted its position in LyondellBasell Industries NV (NYSE:LYB) by 13.1% during the first quarter, Holdings Channel reports. The institutional investor owned 13,564 shares of the specialty chemicals company’s stock after buying an additional 1,575 shares during the period. Burney Co.’s holdings in LyondellBasell Industries NV were worth $1,237,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in LyondellBasell Industries NV during the fourth quarter worth approximately $108,000. TrimTabs Asset Management LLC increased its position in shares of LyondellBasell Industries NV by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 1,358 shares of the specialty chemicals company’s stock valued at $124,000 after buying an additional 640 shares during the period. Focused Wealth Management Inc bought a new position in shares of LyondellBasell Industries NV during the fourth quarter valued at approximately $163,000. Americafirst Capital Management LLC increased its position in shares of LyondellBasell Industries NV by 72.9% in the first quarter. Americafirst Capital Management LLC now owns 2,186 shares of the specialty chemicals company’s stock valued at $199,000 after buying an additional 922 shares during the period. Finally, Brown Advisory Inc. bought a new position in shares of LyondellBasell Industries NV during the fourth quarter valued at approximately $203,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.
Shares of LyondellBasell Industries NV (LYB) traded up 0.92% during midday trading on Friday, hitting $80.88. 3,133,407 shares of the stock traded hands. The firm’s 50 day moving average price is $81.30 and its 200 day moving average price is $87.70. The company has a market capitalization of $32.58 billion, a PE ratio of 9.26 and a beta of 1.04. LyondellBasell Industries NV has a 12-month low of $69.82 and a 12-month high of $97.64.
LyondellBasell Industries NV (NYSE:LYB) last announced its earnings results on Friday, April 28th. The specialty chemicals company reported $2.00 EPS for the quarter, missing the Zacks’ consensus estimate of $2.36 by $0.36. LyondellBasell Industries NV had a return on equity of 60.80% and a net margin of 11.67%. The company had revenue of $8.43 billion during the quarter, compared to the consensus estimate of $7.59 billion. During the same period in the prior year, the business posted $2.48 earnings per share. LyondellBasell Industries NV’s revenue for the quarter was up 25.0% compared to the same quarter last year. Analysts expect that LyondellBasell Industries NV will post $9.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, June 12th. Investors of record on Monday, June 5th were issued a $0.90 dividend. This is a boost from LyondellBasell Industries NV’s previous quarterly dividend of $0.85. This represents a $3.60 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Thursday, June 1st. LyondellBasell Industries NV’s dividend payout ratio (DPR) is currently 41.33%.
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LYB has been the topic of several analyst reports. Vertical Research upgraded LyondellBasell Industries NV from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a report on Tuesday, May 9th. Jefferies Group LLC reiterated a “hold” rating and set a $88.00 price target on shares of LyondellBasell Industries NV in a report on Friday. Instinet lowered their price target on LyondellBasell Industries NV from $91.00 to $90.00 and set a “neutral” rating on the stock in a report on Monday, May 1st. Citigroup Inc. reiterated an “overweight” rating on shares of LyondellBasell Industries NV in a report on Friday, April 14th. Finally, Bank of America Corporation downgraded LyondellBasell Industries NV from a “buy” rating to an “underperform” rating and lowered their price target for the company from $98.00 to $70.00 in a report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $91.00.
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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