Moors & Cabot Inc. reduced its position in shares of LyondellBasell Industries (NYSE:LYB – Free Report) by 27.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,585 shares of the specialty chemicals company’s stock after selling 967 shares during the quarter. Moors & Cabot Inc.’s holdings in LyondellBasell Industries were worth $237,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in LyondellBasell Industries by 11.8% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,008 shares of the specialty chemicals company’s stock worth $93,000 after acquiring an additional 106 shares during the last quarter. Blair William & Co. IL raised its stake in LyondellBasell Industries by 1.0% during the 1st quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock valued at $1,112,000 after buying an additional 107 shares during the last quarter. Quantinno Capital Management LP raised its stake in LyondellBasell Industries by 0.5% during the 2nd quarter. Quantinno Capital Management LP now owns 23,570 shares of the specialty chemicals company’s stock valued at $2,165,000 after buying an additional 108 shares during the last quarter. Commerce Bank raised its stake in LyondellBasell Industries by 1.0% during the 2nd quarter. Commerce Bank now owns 10,545 shares of the specialty chemicals company’s stock valued at $968,000 after buying an additional 108 shares during the last quarter. Finally, Norwood Financial Corp raised its stake in LyondellBasell Industries by 4.7% during the 2nd quarter. Norwood Financial Corp now owns 2,475 shares of the specialty chemicals company’s stock valued at $227,000 after buying an additional 110 shares during the last quarter. 91.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on LYB shares. Bank of America raised shares of LyondellBasell Industries from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $99.00 to $107.00 in a research report on Wednesday, October 18th. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $112.00 to $108.00 and set an “overweight” rating for the company in a research report on Wednesday, October 11th. Royal Bank of Canada dropped their target price on shares of LyondellBasell Industries from $121.00 to $116.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Citigroup raised shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their target price for the stock from $104.00 to $106.00 in a report on Tuesday, October 3rd. Finally, StockNews.com started coverage on shares of LyondellBasell Industries in a report on Thursday, October 5th. They set a “buy” rating for the company. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.07.
LyondellBasell Industries Stock Performance
Shares of NYSE:LYB opened at $96.35 on Tuesday. The firm has a market cap of $31.25 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 1.40 and a beta of 1.19. The firm’s 50 day simple moving average is $93.94 and its 200-day simple moving average is $93.44. LyondellBasell Industries has a one year low of $79.20 and a one year high of $102.04. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.19 and a current ratio of 1.89.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last posted its earnings results on Friday, October 27th. The specialty chemicals company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.43. The company had revenue of $10.63 billion during the quarter, compared to the consensus estimate of $10.10 billion. LyondellBasell Industries had a net margin of 5.53% and a return on equity of 22.15%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.96 earnings per share. As a group, equities analysts predict that LyondellBasell Industries will post 8.71 EPS for the current year.
LyondellBasell Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Monday, November 27th will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, November 24th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.19%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 71.63%.
Insiders Place Their Bets
In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total value of $975,600.00. Following the completion of the transaction, the executive vice president now owns 49,876 shares in the company, valued at $4,865,902.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.
LyondellBasell Industries Profile
LyondellBasell Industries N.V. 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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