Is LyondellBasell (LYB) A Great Long-Term Investment?

Miller Howard Investments, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 3.5% (yield) was recorded by the fund for the third quarter of 2021, compared to the 1.5% for the S&P 500 for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Miller Howard Investments, in its Q3 2021 investor letter, mentioned LyondellBasell Industries N.V. (NYSE: LYB) and discussed its stance on the firm. LyondellBasell Industries N.V. is a Rotterdam, Netherlands-based multinational chemical company with a $30.8 billion market capitalization. LYB delivered a 1.16% return since the beginning of the year, while its 12-month returns are up by 1.81%. The stock closed at $92.72 per share on December 29, 2021.

Here is what Miller Howard Investments has to say about LyondellBasell Industries N.V.  in its Q3 2021 investor letter:

“We initiated a position in LyondellBasell (LYB). Chemical markets are currently robust given the combination of 2020 plant shutdowns and strongly recovering demand. Despite the tailwinds, Lyondell trades at a low valuation and yields just under 5%.”

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Based on our calculations, LyondellBasell Industries N.V. (NYSE: LYB) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. LYB was in 39 hedge fund portfolios at the end of the third quarter of 2021, compared to 41 funds in the previous quarter. LyondellBasell Industries N.V. (NYSE: LYB) delivered a -3.28% return in the past 3 months.

Earlier this month, we published an article that includes LYB in the 5 Dividend Stocks to Buy According to Billionaire Steve Cohen. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.