Lake Street Advisors Group LLC purchased a new stake in LyondellBasell Industries (NYSE:LYB – Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,240 shares of the specialty chemicals company’s stock, valued at approximately $229,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital World Investors bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at approximately $197,305,000. Norges Bank bought a new stake in LyondellBasell Industries during the fourth quarter worth approximately $82,854,000. Allianz Asset Management GmbH boosted its position in LyondellBasell Industries by 826.1% during the fourth quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock worth $38,911,000 after purchasing an additional 365,050 shares during the period. ANTIPODES PARTNERS Ltd boosted its position in LyondellBasell Industries by 42.2% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,010,494 shares of the specialty chemicals company’s stock worth $96,077,000 after purchasing an additional 300,106 shares during the period. Finally, Vanguard Group Inc. boosted its position in LyondellBasell Industries by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after purchasing an additional 290,401 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries Stock Performance
Shares of NYSE LYB traded up $1.30 during trading hours on Thursday, reaching $96.58. The stock had a trading volume of 391,840 shares, compared to its average volume of 1,787,933. The business’s fifty day moving average is $96.29 and its two-hundred day moving average is $97.96. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The company has a market cap of $31.45 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.19 and a beta of 1.09. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02.
LyondellBasell Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.34 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a yield of 5.55%. The ex-dividend date of this dividend was Monday, June 3rd. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.
Analyst Ratings Changes
LYB has been the subject of a number of recent analyst reports. Citigroup upped their target price on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Barclays upped their target price on LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Wells Fargo & Company increased their price objective on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada increased their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $105.17.
Get Our Latest Analysis on LYB
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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