LyondellBasell Industries N.V. $LYB Stock: ARGA Investment Management LP Increases Holdings

ARGA Investment Management LP lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 459.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 292,453 shares of the specialty chemicals company's stock after purchasing an additional 240,151 shares during the quarter. ARGA Investment Management LP owned about 0.09% of LyondellBasell Industries worth $16,807,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of LyondellBasell Industries by 16.7% during the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company's stock worth $1,542,585,000 after acquiring an additional 4,185,571 shares during the period. State Street Corp lifted its position in LyondellBasell Industries by 9.1% in the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock valued at $775,795,000 after purchasing an additional 1,225,833 shares during the period. Royal Bank of Canada lifted its position in LyondellBasell Industries by 23.0% in the first quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company's stock valued at $284,750,000 after purchasing an additional 660,340 shares during the period. Bank of New York Mellon Corp boosted its holdings in LyondellBasell Industries by 16.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,848,621 shares of the specialty chemicals company's stock valued at $148,925,000 after purchasing an additional 262,979 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in LyondellBasell Industries by 46.7% in the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company's stock valued at $124,686,000 after purchasing an additional 492,753 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $66.08 on Wednesday. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $83.94. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. The company's 50-day moving average is $62.75 and its two-hundred day moving average is $63.75. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.57 by ($0.03). The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.87 billion. LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. The firm's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 earnings per share. Research analysts expect that LyondellBasell Industries N.V. will post 9.21 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed 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. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries's payout ratio is currently 69.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America reissued an "underperform" rating and set a $66.00 target price on shares of LyondellBasell Industries in a research note on Monday. The Goldman Sachs Group reissued a "sell" rating and issued a $69.00 price target on shares of LyondellBasell Industries in a report on Monday. KeyCorp started coverage on LyondellBasell Industries in a research note on Thursday, September 10th. They issued a "sector weight" rating on the stock. Wall Street Zen lowered LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. Finally, Wells Fargo & Company increased their price objective on LyondellBasell Industries from $70.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $73.22.

More LyondellBasell Industries News

Here are the key news stories impacting LyondellBasell Industries this week:

• Positive Sentiment: RBC raised its price target to $82 from $68 and maintained an Outperform rating, the strongest bullish analyst call in the recent updates. RBC Raises Price Target on LyondellBasell Industries to $82 From $68, Keeps Outperform Rating
• Positive Sentiment: LyondellBasell agreed to sell its former Houston refinery site to Valero for $320.5 million. The sale may provide cash and advance the company’s portfolio transformation and operational streamlining. LyondellBasell to Sell Former Houston Refinery Site for $320.5M
• Positive Sentiment: A report highlighted that LyondellBasell swung to a $758 million profit from a year-ago loss, signaling a substantial improvement in earnings. LyondellBasell swings to a $758 million profit from a year-ago loss
• Neutral Sentiment: Citigroup raised its target to $74 from $63 but kept a Neutral rating. UBS raised its target to $69 from $62 and also maintained Neutral, suggesting improved valuation expectations without a change in stance. Read More. · Read More.
• Neutral Sentiment: Barclays lifted its target to $69 from $66 but retained an Equal Weight rating, indicating a more measured view. Read More.
• Negative Sentiment: The latest reported quarter modestly missed expectations: EPS was $2.54 versus $2.57 expected, while revenue of $8.50 billion came in below the $8.87 billion consensus. This could temper optimism from the profit rebound and analyst target increases.

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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