Cerebellum GP LLC Has $258,000 Position in LyondellBasell Industries NV (LYB)
Cerebellum GP LLC increased its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 518.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,100 shares of the specialty chemicals company’s stock after acquiring an additional 2,599 shares during the period. Cerebellum GP LLC’s holdings in LyondellBasell Industries were worth $258,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Capital International Investors bought a new stake in LyondellBasell Industries during the third quarter worth about $385,453,000. Skandinaviska Enskilda Banken AB publ bought a new stake in LyondellBasell Industries during the third quarter worth about $189,804,000. Alliancebernstein L.P. raised its holdings in LyondellBasell Industries by 98.7% during the third quarter. Alliancebernstein L.P. now owns 2,662,564 shares of the specialty chemicals company’s stock worth $272,939,000 after acquiring an additional 1,322,755 shares in the last quarter. PointState Capital LP raised its holdings in LyondellBasell Industries by 36.3% during the third quarter. PointState Capital LP now owns 2,520,233 shares of the specialty chemicals company’s stock worth $258,349,000 after acquiring an additional 670,971 shares in the last quarter. Finally, Nordea Investment Management AB bought a new stake in LyondellBasell Industries during the third quarter worth about $48,964,000. Institutional investors and hedge funds own 72.94% of the company’s stock.
In other news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction dated Thursday, December 6th. The shares were bought at an average price of $88.63 per share, with a total value of $443,150.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ai Investments Holdings Llc bought 474,938 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was purchased at an average cost of $91.51 per share, for a total transaction of $43,461,576.38. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 4,401,236 shares of company stock worth $418,531,263. Company insiders own 0.09% of the company’s stock.
LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Tuesday, October 30th. The specialty chemicals company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.28. The firm had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $9.95 billion. LyondellBasell Industries had a return on equity of 47.35% and a net margin of 15.01%. The business’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.67 earnings per share. On average, analysts anticipate that LyondellBasell Industries NV will post 11.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 17th. Shareholders of record on Monday, December 10th were given a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend was Friday, December 7th. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $0.78. LyondellBasell Industries’s payout ratio is 39.10%.
Several analysts recently issued reports on LYB shares. Zacks Investment Research lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Monday, October 8th. Jefferies Financial Group reiterated a “buy” rating on shares of LyondellBasell Industries in a report on Thursday, November 15th. Royal Bank of Canada upgraded LyondellBasell Industries from a “sector perform” rating to an “outperform” rating and set a $130.00 target price on the stock in a report on Tuesday, November 20th. They noted that the move was a valuation call. JPMorgan Chase & Co. lowered LyondellBasell Industries from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $110.00 to $95.00 in a report on Wednesday, September 19th. Finally, Alembic Global Advisors set a $120.00 target price on LyondellBasell Industries and gave the stock a “buy” rating in a report on Monday, November 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the stock. LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $116.94.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in five segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers, copolymers, and compounds.
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