Saudi Central Bank Grows Stake in LyondellBasell Industries N.V. $LYB

Saudi Central Bank increased its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 89.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,042 shares of the specialty chemicals company’s stock after purchasing an additional 8,537 shares during the period. Saudi Central Bank’s holdings in LyondellBasell Industries were worth $950,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. AlphaGrep UK Ltd bought a new stake in LyondellBasell Industries in the second quarter worth $326,000. BAM Wealth Management LLC raised its position in LyondellBasell Industries by 21.9% during the second quarter. BAM Wealth Management LLC now owns 5,962 shares of the specialty chemicals company’s stock valued at $314,000 after purchasing an additional 1,070 shares during the period. Raiffeisen Bank International AG raised its position in LyondellBasell Industries by 2,925.3% during the second quarter. Raiffeisen Bank International AG now owns 11,466 shares of the specialty chemicals company’s stock valued at $615,000 after purchasing an additional 11,087 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of LyondellBasell Industries by 4.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 16,154 shares of the specialty chemicals company’s stock valued at $851,000 after purchasing an additional 634 shares during the last quarter. Finally, NEOS Investment Management LLC raised its holdings in LyondellBasell Industries by 13.2% during the 2nd quarter. NEOS Investment Management LLC now owns 41,988 shares of the specialty chemicals company’s stock valued at $2,211,000 after buying an additional 4,911 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on LYB. Mizuho lifted their price objective on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Citigroup cut their price target on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Royal Bank Of Canada raised their price objective on shares of LyondellBasell Industries from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. BMO Capital Markets boosted their target price on LyondellBasell Industries from $64.00 to $68.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Finally, Evercore upped their target price on LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $72.56.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $64.61 on Thursday. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.07 and a current ratio of 1.64. The firm has a market capitalization of $20.87 billion, a price-to-earnings ratio of -57.18, a PEG ratio of 0.18 and a beta of 0.31. The stock’s 50-day simple moving average is $61.30 and its 200-day simple moving average is $65.95.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $9.21 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. LyondellBasell Industries’s revenue was up 19.8% compared to the same quarter last year. As a group, equities analysts forecast that LyondellBasell Industries N.V. will post 9.2 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -244.25%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company that produces plastics, chemicals and refined products used in packaging, transportation, construction, healthcare, electronics and other consumer and industrial applications. Its portfolio includes polyethylene, polypropylene, propylene oxide, oxyfuels, acetyls and other intermediate chemicals, as well as advanced polymer compounds and solutions.

The company operates across the petrochemical value chain, converting hydrocarbon feedstocks into materials and specialty products.