LyondellBasell Industries (NYSE:LYB) Hits New 52-Week Low – What’s Next?

LyondellBasell Industries (NYSE:LYB)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $88.19 and last traded at $88.24, with a volume of 765625 shares traded. The stock had previously closed at $89.51.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LYB shares. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Barclays cut their price objective on shares of 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. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Royal Bank of Canada dropped their target price on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $106.33.

LyondellBasell Industries Stock Performance

The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. The firm’s 50 day simple moving average is $94.74 and its 200 day simple moving average is $96.69. The firm has a market capitalization of $28.49 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.69 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the previous year, the business posted $2.44 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.13%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Hedge Funds Weigh In On LyondellBasell Industries

Several large investors have recently made changes to their positions in the company. Norden Group LLC acquired a new position in LyondellBasell Industries during the first quarter worth $3,686,000. State Board of Administration of Florida Retirement System increased its position in LyondellBasell Industries by 8.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares during the last quarter. Banco Santander S.A. acquired a new stake in LyondellBasell Industries during the first quarter worth about $3,607,000. Foresight Capital Management Advisors Inc. acquired a new stake in LyondellBasell Industries during the second quarter worth about $1,416,000. Finally, PGGM Investments increased its position in LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after purchasing an additional 7,168 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Company 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.