MQS Management LLC Lowers Holdings in LyondellBasell Industries (NYSE:LYB)

MQS Management LLC decreased its holdings in LyondellBasell Industries (NYSE:LYB) by 51.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,139 shares of the specialty chemicals company’s stock after selling 2,302 shares during the quarter. MQS Management LLC’s holdings in LyondellBasell Industries were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LYB. Brookstone Capital Management purchased a new stake in shares of LyondellBasell Industries during the 4th quarter worth about $234,000. Kingswood Wealth Advisors LLC acquired a new position in LyondellBasell Industries during the 4th quarter worth approximately $408,000. Highland Capital Management LLC lifted its position in LyondellBasell Industries by 0.8% during the 4th quarter. Highland Capital Management LLC now owns 42,605 shares of the specialty chemicals company’s stock worth $4,051,000 after acquiring an additional 340 shares in the last quarter. Planned Solutions Inc. acquired a new position in LyondellBasell Industries during the 4th quarter worth approximately $95,000. Finally, Ellsworth Advisors LLC lifted its position in LyondellBasell Industries by 2.5% during the 4th quarter. Ellsworth Advisors LLC now owns 47,023 shares of the specialty chemicals company’s stock worth $4,471,000 after acquiring an additional 1,166 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded up $1.33 during midday trading on Thursday, hitting $96.61. 1,325,590 shares of the company were exchanged, compared to its average volume of 1,794,508. 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 firm has a market cap of $31.46 billion, a P/E ratio of 14.93, a PEG ratio of 1.19 and a beta of 1.09. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02. The firm has a 50 day simple moving average of $96.22 and a 200-day simple moving average of $97.95.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The company had revenue of $9.93 billion during 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%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.50 earnings per share. Research analysts forecast that LyondellBasell Industries will post 8.3 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were given a dividend of $1.34 per share. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a dividend 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%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LYB. Barclays boosted their price target 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. UBS Group cut their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company upped their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. BMO Capital Markets upped their target price on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada upped their target price 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 research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $105.17.

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.