Brookstone Capital Management Acquires New Stakes in LyondellBasell Industries (NYSE: LYB)



Brookstone Capital Management has acquired a new stake in the shares of LyondellBasell Industries (NYSE: LYBGet a rating) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,124 shares of the specialty chemicals company, valued at around $1,432,000.

Other hedge funds and other institutional investors have also recently changed their holdings in the company. Core Wealth Advisors Inc. purchased a new equity stake in LyondellBasell Industries during the fourth quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. increased its stake in shares of LyondellBasell Industries by 418.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 337 shares of the specialty chemicals company valued at $31,000 after buying an additional 272 shares last quarter. Covestor Ltd purchased a new stake in LyondellBasell Industries in the fourth quarter worth approximately $31,000. EverSource Wealth Advisors LLC purchased a new stake in LyondellBasell Industries in the fourth quarter worth approximately $34,000. Finally, Industrial Alliance Investment Management Inc. acquired a new stake in LyondellBasell Industries in the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 69.64% of the company’s shares.

In related news, the director Jagjeet S. Bindra sold 2,640 shares of the company in a transaction that took place on Tuesday, June 7. The stock was sold at an average price of $111.44, for a total value of $294,201.60. Following the completion of the sale, the director now owns 7,020 shares of the company, valued at approximately $782,308.80. The sale was disclosed in an SEC filing, available at this link. Also, CFO Michael C. Mcmurray sold 33,880 shares of the company in a transaction that took place on Wednesday, June 8. The shares were sold at an average price of $110.94, for a total value of $3,758,647.20. Following the completion of the sale, the CFO now directly owns 39,612 shares of the company, valued at approximately $4,394,555.28. Disclosure of this sale can be found here. Insiders hold 0.18% of the company’s shares.

NYSE: LYB opened at $84.50 on Friday. The company has a debt ratio of 0.88, a current ratio of 1.76 and a quick ratio of 1.10. LyondellBasell Industries has a fifty-two week low of $83.50 and a fifty-two week high of $117.22. The stock’s 50-day moving average is $106.10 and its two-hundred-day moving average is $100.87. The stock has a market capitalization of $27.68 billion, a PE ratio of 4.81, a growth price-earnings ratio of 0.64 and a beta of 1.27.

LyondellBasell Industries (NYSE: LYBGet a rating) last released its results on Friday, April 29. The specialty chemicals company reported earnings per share of $4.00 for the quarter, beating the consensus estimate of $3.48 by $0.52. LyondellBasell Industries has a return on equity of 54.14% and a net margin of 11.68%. The company posted revenue of $13.16 billion for the quarter, versus $12.67 billion expected by analysts. In the same quarter a year earlier, the company posted EPS of $3.18. The company’s revenue for the quarter increased 44.9% year over year. On average, equity research analysts expect LyondellBasell Industries to post 17.85 earnings per share for the current year.

The company also recently declared a special dividend, which was paid on Monday, June 13. Investors of record on Monday, June 6 received a dividend of $5.20. The ex-dividend date was Friday, June 3. This represents a dividend yield of 4.2%. LyondellBasell Industries payout ratio is 27.11%.

Several brokerages have commented on LYB. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a Friday, April 29 research report. Wells Fargo & Company raised its price target on LyondellBasell Industries shares from $120.00 to $125.00 in a Monday, May 2 research report. Barclays raised its price target on LyondellBasell Industries shares from $125.00 to $130.00 in a Monday, May 2 research report. Deutsche Bank Aktiengesellschaft raised its price target on LyondellBasell Industries shares from $104.00 to $120.00 in a Thursday, May 5 research report. Finally, Bank of America lowered its price target on LyondellBasell Industries from $109.00 to $100.00 and placed an “underperform” rating on the stock in a Tuesday, June 14 research note. One research analyst gave the stock a sell rating, nine gave the company a hold rating and six gave the company a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $114.75.

Profile of LyondellBasell Industries (Get a rating)

LyondellBasell Industries NV operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands and internationally. The Company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; intermediates and derivatives; advanced polymer solutions; Refining; and technology.

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Want to see which other hedge funds hold LYB? Visit HoldingsChannel.com for the latest 13F filings and insider trading for LyondellBasell Industries (NYSE: LYBGet a rating).

Institutional ownership by quarter for LyondellBasell Industries (NYSE: LYB)



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