Macquarie Group Ltd. cut its holdings in LyondellBasell Industries NV (NYSE:LYB) by 68.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,106 shares of the specialty chemicals company’s stock after selling 56,413 shares during the period. Macquarie Group Ltd.’s holdings in LyondellBasell Industries were worth $2,585,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Buckingham Asset Management LLC bought a new stake in shares of LyondellBasell Industries in the third quarter valued at about $228,000. Pictet North America Advisors SA lifted its stake in shares of LyondellBasell Industries by 15.8% in the third quarter. Pictet North America Advisors SA now owns 25,298 shares of the specialty chemicals company’s stock valued at $2,506,000 after buying an additional 3,461 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of LyondellBasell Industries by 19.4% in the third quarter. Ameriprise Financial Inc. now owns 6,591,551 shares of the specialty chemicals company’s stock valued at $652,840,000 after buying an additional 1,069,625 shares during the period. Palladium Partners LLC lifted its stake in shares of LyondellBasell Industries by 1.9% in the third quarter. Palladium Partners LLC now owns 91,157 shares of the specialty chemicals company’s stock valued at $9,029,000 after buying an additional 1,684 shares during the period. Finally, Commonwealth Equity Services Inc lifted its stake in shares of LyondellBasell Industries by 56.0% in the third quarter. Commonwealth Equity Services Inc now owns 35,788 shares of the specialty chemicals company’s stock valued at $3,544,000 after buying an additional 12,845 shares during the period. Hedge funds and other institutional investors own 74.29% of the company’s stock.
LYB has been the subject of several research reports. Jefferies Group set a $88.00 target price on shares of LyondellBasell Industries and gave the company a “hold” rating in a research note on Monday, August 21st. Cowen reiterated a “hold” rating and issued a $90.00 target price on shares of LyondellBasell Industries in a research note on Monday, August 28th. ValuEngine upgraded shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, September 6th. Nomura reiterated a “hold” rating and issued a $99.00 target price (up previously from $90.00) on shares of LyondellBasell Industries in a research note on Tuesday, September 26th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $96.00 target price (up previously from $90.00) on shares of LyondellBasell Industries in a research note on Saturday, September 30th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $100.47.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, December 5th will be given 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 (DPR) is presently 38.59%.
In related news, Director Jagjeet S. Bindra sold 1,574 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.
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LyondellBasell Industries Profile
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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