LyondellBasell Industries (NYSE:LYB) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its position in LyondellBasell Industries (NYSE:LYB) by 12.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,802 shares of the specialty chemicals company’s stock after acquiring an additional 3,453 shares during the quarter. Daiwa Securities Group Inc.’s holdings in LyondellBasell Industries were worth $3,050,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. CVA Family Office LLC grew its position in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the last quarter. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the first quarter worth about $28,000. Blue Trust Inc. increased its position in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares during the period. Matrix Trust Co purchased a new stake in LyondellBasell Industries during the 3rd quarter valued at approximately $30,000. Finally, Ashton Thomas Securities LLC acquired a new stake in LyondellBasell Industries during the 3rd quarter worth approximately $31,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $83.04 on Thursday. The company has a market capitalization of $26.97 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $81.45 and a twelve month high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The business’s 50-day moving average price is $89.36 and its 200 day moving average price is $93.92.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company posted $2.46 EPS. On average, research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 81.58%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LYB. Barclays cut their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Royal Bank of Canada cut their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Piper Sandler lowered their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Finally, Mizuho dropped their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.70.

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.