Ignite Planners LLC Trims Stock Position in LyondellBasell Industries (NYSE:LYB)

Ignite Planners LLC cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 15.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,450 shares of the specialty chemicals company’s stock after selling 1,602 shares during the quarter. Ignite Planners LLC’s holdings in LyondellBasell Industries were worth $862,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Kestra Advisory Services LLC increased its stake in LyondellBasell Industries by 14.3% during the third quarter. Kestra Advisory Services LLC now owns 15,248 shares of the specialty chemicals company’s stock worth $1,444,000 after acquiring an additional 1,913 shares during the last quarter. Rafferty Asset Management LLC increased its stake in LyondellBasell Industries by 12.7% during the third quarter. Rafferty Asset Management LLC now owns 19,081 shares of the specialty chemicals company’s stock worth $1,807,000 after acquiring an additional 2,151 shares during the last quarter. Hsbc Holdings PLC increased its stake in LyondellBasell Industries by 558.1% during the third quarter. Hsbc Holdings PLC now owns 417,654 shares of the specialty chemicals company’s stock worth $39,531,000 after acquiring an additional 354,192 shares during the last quarter. Regal Investment Advisors LLC acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at about $206,000. Finally, LPL Financial LLC grew its stake in shares of LyondellBasell Industries by 3.7% in the third quarter. LPL Financial LLC now owns 558,657 shares of the specialty chemicals company’s stock valued at $52,905,000 after buying an additional 19,679 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. increased their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Royal Bank of Canada increased their target price on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Mizuho increased their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company increased their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $105.08.

LyondellBasell Industries Stock Performance

NYSE:LYB traded up $2.31 during trading hours on Monday, reaching $97.52. 1,897,041 shares of the stock were exchanged, compared to its average volume of 1,862,223. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The firm has a 50 day simple moving average of $98.47 and a 200-day simple moving average of $97.94. LyondellBasell Industries has a 52 week low of $87.91 and a 52 week high of $107.02. The stock has a market capitalization of $31.75 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.17 and a beta of 1.13.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The company had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. LyondellBasell Industries’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a $1.34 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, June 3rd. This represents a $5.36 annualized dividend and a dividend yield of 5.50%. LyondellBasell Industries’s dividend payout ratio (DPR) is 82.84%.

About LyondellBasell Industries

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.