National Asset Management Inc. Sells 1,401 Shares of LyondellBasell Industries NV (LYB)
National Asset Management Inc. lessened its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 16.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,375 shares of the specialty chemicals company’s stock after selling 1,401 shares during the quarter. National Asset Management Inc.’s holdings in LyondellBasell Industries were worth $732,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the business. FMR LLC increased its position in shares of LyondellBasell Industries by 2.8% during the second quarter. FMR LLC now owns 29,950,127 shares of the specialty chemicals company’s stock worth $2,527,492,000 after acquiring an additional 821,391 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LyondellBasell Industries by 2.0% during the second quarter. Vanguard Group Inc. now owns 24,529,455 shares of the specialty chemicals company’s stock worth $2,070,041,000 after acquiring an additional 473,129 shares during the last quarter. BlackRock Inc. increased its position in shares of LyondellBasell Industries by 11.6% during the second quarter. BlackRock Inc. now owns 22,389,726 shares of the specialty chemicals company’s stock worth $1,889,470,000 after acquiring an additional 2,327,350 shares during the last quarter. Capital World Investors increased its position in shares of LyondellBasell Industries by 23.0% during the second quarter. Capital World Investors now owns 19,562,100 shares of the specialty chemicals company’s stock worth $1,650,846,000 after acquiring an additional 3,651,750 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of LyondellBasell Industries by 19.4% during the third quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock worth $652,840,000 after acquiring an additional 1,069,625 shares during the last quarter. Institutional investors own 74.29% of the company’s stock.
Shares of LyondellBasell Industries NV (NYSE:LYB) traded up $0.61 during trading on Tuesday, reaching $103.81. The company had a trading volume of 2,143,700 shares, compared to its average volume of 2,570,675. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.49 and a current ratio of 2.40. The company has a market capitalization of $41,063.32, a price-to-earnings ratio of 10.77, a P/E/G ratio of 1.16 and a beta of 1.07. LyondellBasell Industries NV has a 1 year low of $78.01 and a 1 year high of $107.83.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, December 5th will be issued a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 3.47%. The ex-dividend date is Monday, December 4th. LyondellBasell Industries’s dividend payout ratio is currently 38.59%.
A number of analysts have recently issued reports on LYB shares. Cowen reaffirmed a “hold” rating and set a $90.00 target price on shares of LyondellBasell Industries in a research report on Wednesday, October 4th. UBS lifted their target price on LyondellBasell Industries from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, October 30th. Zacks Investment Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Thursday, October 12th. Morgan Stanley set a $115.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a research report on Saturday. Finally, Jefferies Group reaffirmed a “hold” rating and set a $95.00 target price (up from $88.00) on shares of LyondellBasell Industries in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $100.47.
In related news, Director Jagjeet S. Bindra sold 1,574 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.
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About LyondellBasell Industries
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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