Toronto Dominion Bank Has $23.20 Million Stake in LyondellBasell Industries NV (NYSE:LYB)
Toronto Dominion Bank increased its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 269,369 shares of the specialty chemicals company’s stock after buying an additional 13,869 shares during the period. Toronto Dominion Bank owned 0.08% of LyondellBasell Industries worth $23,195,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of LYB. Advisors Preferred LLC acquired a new position in LyondellBasell Industries during the second quarter worth $25,000. MUFG Americas Holdings Corp increased its holdings in LyondellBasell Industries by 80.8% during the second quarter. MUFG Americas Holdings Corp now owns 329 shares of the specialty chemicals company’s stock worth $28,000 after buying an additional 147 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in LyondellBasell Industries during the first quarter worth $35,000. Reilly Financial Advisors LLC increased its holdings in shares of LyondellBasell Industries by 89.4% in the second quarter. Reilly Financial Advisors LLC now owns 413 shares of the specialty chemicals company’s stock valued at $36,000 after purchasing an additional 195 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its holdings in shares of LyondellBasell Industries by 47.1% in the second quarter. Enterprise Financial Services Corp now owns 428 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.
In other LyondellBasell Industries news, CEO Bhavesh V. Patel bought 7,246 shares of LyondellBasell Industries stock in a transaction dated Friday, August 23rd. The stock was bought at an average price of $68.85 per share, with a total value of $498,887.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jagjeet S. Bindra bought 1,360 shares of LyondellBasell Industries stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $73.48 per share, with a total value of $99,932.80. The disclosure for this purchase can be found here. In the last three months, insiders bought 773,107 shares of company stock valued at $57,638,240. 0.14% of the stock is currently owned by company insiders.
LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.84 by ($0.09). The business had revenue of $9.05 billion during the quarter, compared to the consensus estimate of $9.26 billion. LyondellBasell Industries had a net margin of 9.83% and a return on equity of 35.20%. Equities analysts predict that LyondellBasell Industries NV will post 10.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Wednesday, September 4th were given a $1.05 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.86%. LyondellBasell Industries’s payout ratio is presently 37.27%.
LYB has been the topic of several research reports. Bank of America decreased their price objective on shares of LyondellBasell Industries from $110.00 to $98.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Nomura decreased their price objective on shares of LyondellBasell Industries from $93.00 to $91.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Barclays decreased their price objective on shares of LyondellBasell Industries from $100.00 to $91.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. Deutsche Bank downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and decreased their price objective for the company from $100.00 to $94.00 in a report on Monday, June 17th. Finally, Citigroup initiated coverage on shares of LyondellBasell Industries in a report on Friday, July 12th. They issued a “neutral” rating and a $92.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $102.18.
LyondellBasell Industries Company Profile
LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; 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 and copolymers.
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