78,596 Shares in LyondellBasell Industries (NYSE:LYB) Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new position in shares of LyondellBasell Industries (NYSE:LYB) in the third quarter, HoldingsChannel reports. The firm bought 78,596 shares of the specialty chemicals company’s stock, valued at approximately $7,537,000.

Several other large investors also recently modified their holdings of the business. GAMMA Investing LLC increased its stake in shares of LyondellBasell Industries by 108.4% during the second quarter. GAMMA Investing LLC now owns 1,209 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 629 shares during the period. CWM LLC raised its holdings in LyondellBasell Industries by 15.0% in the 2nd quarter. CWM LLC now owns 7,335 shares of the specialty chemicals company’s stock worth $702,000 after purchasing an additional 954 shares in the last quarter. QRG Capital Management Inc. lifted its position in shares of LyondellBasell Industries by 4.8% in the 2nd quarter. QRG Capital Management Inc. now owns 80,849 shares of the specialty chemicals company’s stock worth $7,734,000 after purchasing an additional 3,717 shares during the period. Hexagon Capital Partners LLC increased its position in shares of LyondellBasell Industries by 8.8% during the second quarter. Hexagon Capital Partners LLC now owns 3,854 shares of the specialty chemicals company’s stock valued at $369,000 after buying an additional 311 shares during the period. Finally, Twelve Points Wealth Management LLC increased its position in shares of LyondellBasell Industries by 9.9% during the second quarter. Twelve Points Wealth Management LLC now owns 18,834 shares of the specialty chemicals company’s stock valued at $1,802,000 after buying an additional 1,697 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Trading Down 0.7 %

LyondellBasell Industries stock opened at $77.41 on Friday. LyondellBasell Industries has a one year low of $76.22 and a one year high of $107.02. The business’s fifty day moving average is $87.63 and its 200 day moving average is $93.13. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a market capitalization of $25.14 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 2.26 and a beta of 1.05.

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

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Analyst Ratings Changes

Several research firms have weighed in on LYB. JPMorgan Chase & Co. cut their price objective on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company reduced their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Barclays lowered their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Piper Sandler reduced 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. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $101.70.

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.