Mirae Asset Global Investments Co. Ltd. Makes New Investment in LyondellBasell Industries N.V. $LYB

Key Points

• Mirae Asset Global Investments opened a new position in LyondellBasell, buying 66,946 shares valued at approximately $3.85 million in the third quarter.
• Analysts’ consensus rating was Hold, with an average price target of $73.22; ratings included seven Buys, ten Holds, three Sells and one Strong Buy.
• LyondellBasell’s latest quarterly results fell short of estimates, reporting $2.54 in earnings per share and $8.50 billion in revenue. Revenue nevertheless rose 10% year over year.

Mirae Asset Global Investments Co. Ltd. bought a new position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 66,946 shares of the specialty chemicals company's stock, valued at approximately $3,847,000.

Other hedge funds have also added to or reduced their stakes in the company. Aviance Capital Partners LLC lifted its holdings in shares of LyondellBasell Industries by 1.5% in the third quarter. Aviance Capital Partners LLC now owns 36,893 shares of the specialty chemicals company's stock worth $2,120,000 after buying an additional 563 shares in the last quarter. ProShare Advisors LLC increased its holdings in LyondellBasell Industries by 0.9% during the 3rd quarter. ProShare Advisors LLC now owns 66,163 shares of the specialty chemicals company's stock worth $3,802,000 after acquiring an additional 581 shares during the period. Vise Technologies Inc. lifted its stake in LyondellBasell Industries by 43.9% in the 3rd quarter. Vise Technologies Inc. now owns 10,580 shares of the specialty chemicals company's stock worth $608,000 after purchasing an additional 3,226 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in LyondellBasell Industries by 2.0% in the 3rd quarter. Cidel Asset Management Inc. now owns 10,197 shares of the specialty chemicals company's stock valued at $586,000 after purchasing an additional 201 shares during the period. Finally, Unison Advisors LLC grew its position in shares of LyondellBasell Industries by 1.2% during the 3rd quarter. Unison Advisors LLC now owns 46,761 shares of the specialty chemicals company's stock valued at $2,687,000 after purchasing an additional 564 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LYB. Wall Street Zen downgraded LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, September 5th. KeyCorp started coverage on LyondellBasell Industries in a report on Thursday, September 10th. They issued a "sector weight" rating on the stock. Royal Bank Of Canada lifted their price target on LyondellBasell Industries from $68.00 to $82.00 and gave the company an "outperform" rating in a research report on Monday, November 2nd. Morgan Stanley cut their price objective on LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating for the company in a report on Monday, July 20th. Finally, Citigroup upped their price objective on shares of LyondellBasell Industries from $63.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $73.22.

LyondellBasell Industries Price Performance

Shares of LYB traded down $0.81 during midday trading on Friday, reaching $60.82. The stock had a trading volume of 3,065,436 shares, compared to its average volume of 3,470,195. The company's 50-day moving average is $62.69 and its 200 day moving average is $63.93. LyondellBasell Industries N.V. has a 12-month low of $41.58 and a 12-month high of $83.94. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $19.66 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share for the quarter, missing analysts' consensus estimates of $2.57 by ($0.03). The firm had revenue of $8.50 billion for the quarter, compared to analysts' expectations of $8.87 billion. LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The business's quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. On average, equities analysts predict that LyondellBasell Industries N.V. will post 9.08 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 69.70%.

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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