Rakuten Investment Management Inc. Makes New $2.70 Million Investment in LyondellBasell Industries N.V. $LYB

Key Points

• Rakuten Investment Management opened a new position in LyondellBasell, buying 46,372 shares worth approximately $2.70 million in the third quarter.
• LyondellBasell’s latest quarterly results fell slightly short of forecasts: EPS was $2.54 versus $2.57 expected, and revenue was $8.50 billion versus $8.87 billion expected, though revenue rose 10% year over year.
• The company’s quarterly dividend was $0.69 per share, equivalent to an annualized yield of about 4.5%. Analysts’ consensus rating was Hold, with an average price target of $73.22.

Rakuten Investment Management Inc. purchased a new position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 46,372 shares of the specialty chemicals company's stock, valued at approximately $2,698,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LYB. Farther Finance Advisors LLC lifted its position in shares of LyondellBasell Industries by 149.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 28,109 shares of the specialty chemicals company's stock worth $1,615,000 after buying an additional 16,827 shares during the period. Marco Investment Management LLC grew its position in LyondellBasell Industries by 10.9% in the second quarter. Marco Investment Management LLC now owns 190,709 shares of the specialty chemicals company's stock valued at $10,041,000 after acquiring an additional 18,700 shares during the period. Envestnet Asset Management Inc. grew its position in LyondellBasell Industries by 5.2% in the second quarter. Envestnet Asset Management Inc. now owns 487,459 shares of the specialty chemicals company's stock valued at $25,665,000 after acquiring an additional 24,060 shares during the period. Russell Investments Group Ltd. grew its position in LyondellBasell Industries by 130.1% in the second quarter. Russell Investments Group Ltd. now owns 420,894 shares of the specialty chemicals company's stock valued at $22,187,000 after acquiring an additional 237,950 shares during the period. Finally, State Street Corp raised its stake in LyondellBasell Industries by 9.1% during the second quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company's stock worth $775,795,000 after acquiring an additional 1,225,833 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Trading Down 1.3%

LYB stock opened at $60.82 on Friday. The business has a fifty day moving average price of $62.69 and a 200 day moving average price of $63.93. LyondellBasell Industries N.V. has a fifty-two week low of $41.58 and a fifty-two week high of $83.94. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 0.16 and a beta of 0.29. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.78 and a quick ratio of 1.18.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The specialty chemicals company reported $2.54 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%. LyondellBasell Industries's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 EPS. Analysts expect 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. Investors 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 4.5%. The ex-dividend date of this dividend was Monday, August 24th. LyondellBasell Industries's payout ratio is currently 69.70%.

Analyst Ratings Changes

A number of brokerages have issued reports on LYB. Mizuho set a $68.00 price objective on LyondellBasell Industries in a report on Monday, November 2nd. Barclays upped their target price on shares of LyondellBasell Industries from $66.00 to $69.00 and gave the stock an "equal weight" rating in a report on Monday, November 2nd. Wells Fargo & Company increased their target price on shares of LyondellBasell Industries from $70.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. Wall Street Zen downgraded shares of LyondellBasell Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 5th. Finally, Royal Bank Of Canada boosted their price target on shares of LyondellBasell Industries from $68.00 to $82.00 and gave the company an "outperform" rating in a research report on Monday, November 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $73.22.

LyondellBasell Industries Profile

LyondellBasell Industries NYSE: LYB is a global chemicals and plastics company that makes materials and products used by manufacturers in a range of industries. Its businesses span the production of olefins, such as ethylene and propylene, and polyolefins, including polyethylene and polypropylene.

The company also produces intermediates and derivatives, develops advanced polymer compounds, and provides chemical-process technology and related services. Its products are used in applications including packaging, transportation, construction, consumer goods and healthcare.

Formed in 2007 through the merger of Lyondell Chemical Company and Basell, LyondellBasell serves customers around the world through manufacturing and commercial operations across multiple regions.

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