Engineers Gate Manager LP Purchases 209,255 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Engineers Gate Manager LP increased its LyondellBasell stake by 158.6% in the second quarter, acquiring 209,255 shares for a total of 341,172 shares valued at approximately $18.0 million. Institutional investors collectively own 71.2% of the company.
• LyondellBasell reported quarterly EPS of $4.30, beating the $3.44 consensus estimate, while revenue rose 19.8% year over year to $9.18 billion. The company also declared a quarterly dividend of $0.69, representing a 4.3% annualized yield.
• Shares opened at $64.61, below the analyst consensus price target of $72.56. Despite mixed rating changes, analysts’ overall consensus remains “Hold.”

Engineers Gate Manager LP grew its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 158.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 341,172 shares of the specialty chemicals company's stock after acquiring an additional 209,255 shares during the quarter. Engineers Gate Manager LP owned 0.11% of LyondellBasell Industries worth $17,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in shares of LyondellBasell Industries by 16.7% during the 2nd quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company's stock valued at $1,542,585,000 after buying an additional 4,185,571 shares in the last quarter. California State Teachers Retirement System raised its position in LyondellBasell Industries by 5,280.5% during the second quarter. California State Teachers Retirement System now owns 15,773,782 shares of the specialty chemicals company's stock valued at $830,490,000 after purchasing an additional 15,480,616 shares during the period. State Street Corp lifted its stake in shares of LyondellBasell Industries by 2.7% in the 4th quarter. State Street Corp now owns 13,544,711 shares of the specialty chemicals company's stock valued at $586,486,000 after purchasing an additional 361,761 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of LyondellBasell Industries by 4.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,102,068 shares of the specialty chemicals company's stock worth $437,420,000 after purchasing an additional 399,130 shares during the period. Finally, Capital World Investors boosted its holdings in shares of LyondellBasell Industries by 0.4% in the 4th quarter. Capital World Investors now owns 9,843,930 shares of the specialty chemicals company's stock worth $426,242,000 after purchasing an additional 36,187 shares during the period. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

NYSE LYB opened at $64.61 on Thursday. 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 company has a market cap of $20.87 billion, a PE ratio of -57.18, a P/E/G ratio of 0.18 and a beta of 0.31. The firm's 50 day moving average price is $61.30 and its 200-day moving average price is $65.95. LyondellBasell Industries N.V. has a 52-week low of $41.58 and a 52-week high of $83.94.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 EPS for the quarter, topping the consensus estimate of $3.44 by $0.86. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%.The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. During the same period in the previous year, the company posted $0.62 EPS. The business's revenue for the quarter was up 19.8% compared to the same quarter last year. Sell-side analysts forecast that LyondellBasell Industries N.V. will post 9.2 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries's dividend payout ratio (DPR) is currently -244.25%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Evercore increased their price target on LyondellBasell Industries from $70.00 to $73.00 in a report on Thursday, May 14th. Zacks Research downgraded shares of LyondellBasell Industries from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Mizuho boosted their target price on LyondellBasell Industries from $62.00 to $66.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Morgan Stanley reduced their price target on LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, July 20th. Finally, Alembic Global Advisors decreased their price target on LyondellBasell Industries from $95.00 to $83.00 and set an "overweight" rating for the company in a research note on Thursday, July 2nd. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of "Hold" and a consensus target price of $72.56.

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.

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