Wedge Capital Management L L P NC Has $7.23 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

Wedge Capital Management L L P NC lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 75,391 shares of the specialty chemicals company’s stock after selling 2,133 shares during the period. Wedge Capital Management L L P NC’s holdings in LyondellBasell Industries were worth $7,230,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC lifted its holdings in shares of LyondellBasell Industries by 3.6% in the first quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock valued at $325,000 after purchasing an additional 109 shares in the last quarter. Rockland Trust Co. boosted its position in LyondellBasell Industries by 0.9% during the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after acquiring an additional 112 shares during the period. Verdence Capital Advisors LLC boosted its position in LyondellBasell Industries by 0.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after acquiring an additional 120 shares during the period. RDA Financial Network grew its stake in LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock valued at $313,000 after acquiring an additional 122 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of LyondellBasell Industries by 25.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 122 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group lowered their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Barclays dropped their target price on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a research report on Monday, October 7th. Finally, Wells Fargo & Company lowered their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $106.40.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $93.44 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. The stock has a market cap of $30.43 billion, a P/E ratio of 14.44, a PEG ratio of 1.32 and a beta of 1.07. The company has a fifty day moving average price of $95.66 and a 200 day moving average price of $97.35. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. Analysts anticipate that LyondellBasell Industries will post 7.8 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 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.