Cigna Investments Inc. New Reduces Holdings in LyondellBasell Industries (NYSE:LYB)

Cigna Investments Inc. New trimmed its position in shares of LyondellBasell Industries (NYSE:LYB) by 5.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,625 shares of the specialty chemicals company’s stock after selling 145 shares during the quarter. Cigna Investments Inc. New’s holdings in LyondellBasell Industries were worth $252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of LyondellBasell Industries by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after purchasing an additional 170,464 shares during the period. Capital World Investors boosted its stake in shares of LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of LyondellBasell Industries by 0.6% during the second quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of LyondellBasell Industries by 0.4% during the third quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock valued at $87,512,000 after purchasing an additional 3,394 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of recent analyst reports. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Finally, UBS Group decreased their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $106.33.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $86.57 on Friday. The company has a market capitalization of $28.14 billion, a PE ratio of 12.18, a P/E/G ratio of 1.65 and a beta of 1.07. 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 company has a 50-day simple moving average of $93.56 and a two-hundred day simple moving average of $96.04. LyondellBasell Industries has a one year low of $85.64 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted $2.44 earnings per share. Research analysts expect that LyondellBasell Industries will post 7.53 EPS for the current fiscal 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 $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 6.19%. LyondellBasell Industries’s dividend payout ratio is currently 75.39%.

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.