LyondellBasell Industries N.V. $LYB Position Reduced by Hosking Partners LLP

Key Points

• Hosking Partners reduced its LyondellBasell stake by 5.2% in the third quarter, selling 43,000 shares and retaining 777,140 shares valued at approximately $44.7 million. Institutional investors collectively own 71.2% of LYB.
• LyondellBasell shares opened at $63.27, with the stock trading between a 52-week low of $41.58 and high of $83.94. The company reported quarterly EPS of $4.30, exceeding analysts’ $3.44 estimate, while revenue reached $9.18 billion.
• The company pays a quarterly dividend of $0.69 per share, equal to an annualized $2.76 dividend and a 4.4% yield. Analysts’ consensus rating is “Hold,” with an average price target of $71.50 after several brokerages adjusted their targets.

Hosking Partners LLP decreased its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 5.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 777,140 shares of the specialty chemicals company's stock after selling 43,000 shares during the quarter. LyondellBasell Industries makes up 1.5% of Hosking Partners LLP's portfolio, making the stock its 23rd biggest holding. Hosking Partners LLP owned 0.24% of LyondellBasell Industries worth $44,662,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Fortitude Family Office LLC grew its stake in shares of LyondellBasell Industries by 221.0% during the 3rd quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 347 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of LyondellBasell Industries in the 1st quarter worth approximately $48,000. Kelleher Financial Advisors lifted its stake in shares of LyondellBasell Industries by 4,112.5% in the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company's stock worth $35,000 after purchasing an additional 658 shares during the period. SHP Wealth Management purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth approximately $39,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of LyondellBasell Industries in the first quarter worth approximately $73,000. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Down 1.1%

NYSE LYB opened at $63.27 on Thursday. The stock's 50-day moving average price is $62.49 and its 200-day moving average price is $64.28. The company has a quick ratio of 1.07, a current ratio of 1.64 and a debt-to-equity ratio of 1.05. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The company has a market capitalization of $20.44 billion, a P/E ratio of 11.55, a price-to-earnings-growth ratio of 0.16 and a beta of 0.30.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.86. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. The business's quarterly revenue was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. On average, equities research analysts predict that LyondellBasell Industries N.V. will post 9.25 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a dividend of $0.69 per share. The ex-dividend date was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a yield of 4.4%. LyondellBasell Industries's dividend payout ratio (DPR) is presently -244.25%.

Analyst Ratings Changes

Several brokerages recently issued reports on LYB. Bank of America cut their target price on shares of LyondellBasell Industries from $68.00 to $48.00 and set an "underperform" rating for the company in a research report on Tuesday, June 30th. Citigroup reiterated a "neutral" rating and issued a $63.00 price target (down from $72.00) on shares of LyondellBasell Industries in a research report on Wednesday, September 30th. Barclays assumed coverage on shares of LyondellBasell Industries in a research report on Tuesday, October 13th. They issued an "equal weight" rating and a $66.00 price target on the stock. Alembic Global Advisors dropped their price target on shares of LyondellBasell Industries from $95.00 to $83.00 and set an "overweight" rating on the stock in a research note on Thursday, July 2nd. Finally, BMO Capital Markets boosted their price objective on shares of LyondellBasell Industries from $64.00 to $68.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $71.50.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.

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