LyondellBasell Industries N.V. $LYB Stock Bought by MBL Wealth LLC

MBL Wealth LLC lifted its position in LyondellBasell Industries N.V. (NYSE:LYB) by 309.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,775 shares of the specialty chemicals company’s stock after acquiring an additional 12,680 shares during the period. MBL Wealth LLC’s holdings in LyondellBasell Industries were worth $964,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC grew its holdings in LyondellBasell Industries by 221.0% during the third quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 347 shares during the period. Kelleher Financial Advisors increased its holdings in LyondellBasell Industries by 4,112.5% during the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 658 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in LyondellBasell Industries in the 1st quarter valued at approximately $48,000. Versant Capital Management Inc raised its holdings in shares of LyondellBasell Industries by 148.8% in the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 570 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in LyondellBasell Industries during the 2nd quarter worth about $53,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $66.54 on Friday. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $83.94. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. The business’s 50 day simple moving average is $62.60 and its 200 day simple moving average is $64.20. The stock has a market capitalization of $21.50 billion, a PE ratio of -58.89, a PEG ratio of 0.16 and a beta of 0.30.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $9.21 billion. During the same quarter last year, the firm earned $0.62 earnings per share. LyondellBasell Industries’s quarterly revenue was up 19.8% on a year-over-year basis. As a group, research analysts forecast that LyondellBasell Industries N.V. will post 9.25 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were paid a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 annualized dividend and a yield of 4.1%. LyondellBasell Industries’s dividend payout ratio is currently -244.25%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Mizuho upped their price target on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Morgan Stanley reduced their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research note on Monday, July 20th. Zacks Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Finally, Barclays began coverage on shares of LyondellBasell Industries in a research report on Tuesday, October 13th. They set an “equal weight” rating and a $66.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.50.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.