Quadrature Capital Ltd Buys New Position in LyondellBasell Industries (NYSE:LYB)

Quadrature Capital Ltd purchased a new position in LyondellBasell Industries (NYSE:LYB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,270 shares of the specialty chemicals company’s stock, valued at approximately $691,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LYB. Capital World Investors purchased a new stake in LyondellBasell Industries in the fourth quarter worth $197,305,000. Pacer Advisors Inc. grew its stake in LyondellBasell Industries by 35.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after purchasing an additional 935,430 shares during the period. Norges Bank purchased a new stake in LyondellBasell Industries in the fourth quarter worth $82,854,000. Bank of Nova Scotia grew its stake in LyondellBasell Industries by 3,162.5% in the third quarter. Bank of Nova Scotia now owns 614,259 shares of the specialty chemicals company’s stock worth $58,170,000 after purchasing an additional 595,431 shares during the period. Finally, Morgan Stanley grew its stake in LyondellBasell Industries by 9.9% in the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock worth $597,140,000 after purchasing an additional 569,887 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LYB. Wolfe Research began coverage on LyondellBasell Industries in a research note on Friday, March 1st. They issued an “underperform” rating on the stock. Citigroup increased their target price on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. JPMorgan Chase & Co. upped their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Finally, BMO Capital Markets upped their price target on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $105.08.

LyondellBasell Industries Stock Up 0.2 %

NYSE LYB opened at $95.21 on Friday. The stock’s 50-day moving average price is $98.53 and its 200-day moving average price is $97.83. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a 52 week low of $86.64 and a 52 week high of $107.02. The company has a market capitalization of $31.00 billion, a P/E ratio of 14.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. During the same quarter last year, the company earned $2.50 earnings per share. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a $1.34 dividend. The ex-dividend date was Monday, June 3rd. This represents a $5.36 annualized dividend and a dividend yield of 5.63%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s dividend payout ratio (DPR) is 82.84%.

LyondellBasell Industries Profile

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.