Teacher Retirement System of Texas reduced its position in LyondellBasell Industries (NYSE:LYB) by 46.6% during the third quarter, Holdings Channel reports. The fund owned 237,856 shares of the company’s stock after selling 207,166 shares during the period. Teacher Retirement System of Texas owned about 0.06% of LyondellBasell Industries worth $19,185,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the company. Credit Capital Investments LLC boosted its stake in LyondellBasell Industries by 21,119.3% in the second quarter. Credit Capital Investments LLC now owns 4,212,246 shares of the company’s stock worth $4,212,000 after buying an additional 4,192,395 shares during the last quarter. Bank of Montreal Can acquired a new stake in LyondellBasell Industries during the second quarter worth $184,074,000. Janus Capital Management LLC boosted its stake in LyondellBasell Industries by 7.4% in the second quarter. Janus Capital Management LLC now owns 12,232,383 shares of the company’s stock worth $910,334,000 after buying an additional 844,373 shares during the last quarter. Iridian Asset Management LLC CT boosted its stake in LyondellBasell Industries by 23.2% in the second quarter. Iridian Asset Management LLC CT now owns 4,054,132 shares of the company’s stock worth $301,709,000 after buying an additional 762,920 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in LyondellBasell Industries by 6.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 10,262,230 shares of the company’s stock worth $763,715,000 after buying an additional 630,125 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.
Shares of LyondellBasell Industries (NYSE:LYB) traded down 0.61% during trading on Monday, hitting $86.14. The company had a trading volume of 1,970,515 shares. The stock’s 50-day moving average is $81.33 and its 200 day moving average is $79.08. LyondellBasell Industries has a 52-week low of $69.10 and a 52-week high of $97.20. The firm has a market capitalization of $35.10 billion, a P/E ratio of 9.58 and a beta of 1.13.
LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $2.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.32 by $0.01. The firm had revenue of $7.37 billion for the quarter, compared to analysts’ expectations of $7.48 billion. LyondellBasell Industries had a return on equity of 64.02% and a net margin of 13.57%. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. During the same period in the previous year, the business posted $2.80 EPS. Equities research analysts predict that LyondellBasell Industries will post $9.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 13th. Shareholders of record on Tuesday, November 29th will be issued a dividend of $0.85 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. The ex-dividend date is Friday, November 25th. This represents a $3.40 annualized dividend and a dividend yield of 3.92%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 37.74%.
LYB has been the subject of a number of recent analyst reports. Deutsche Bank AG raised their price objective on LyondellBasell Industries from $80.00 to $83.00 and gave the stock a “hold” rating in a research report on Tuesday, September 13th. Susquehanna lowered their price objective on LyondellBasell Industries from $100.00 to $96.00 and set a “positive” rating for the company in a research report on Friday, August 26th. Morgan Stanley set a $115.00 price objective on LyondellBasell Industries and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Vetr cut LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $82.00 price objective for the company. in a research report on Monday, August 22nd. Finally, Jefferies Group reaffirmed a “neutral” rating on shares of LyondellBasell Industries in a research report on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $89.47.
In other LyondellBasell Industries news, Director Jagjeet S. Bindra sold 3,750 shares of the firm’s stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $80.01, for a total transaction of $300,037.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.
About LyondellBasell Industries
LyondellBasell Industries N.V. is a global chemical company. The Company’s segments include Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining, and Technology. Its O&P-Americas segment produces and markets olefins, including ethylene and ethylene co-products, and polyolefins.