Eagle Asset Management Inc. grew its position in LyondellBasell Industries (NYSE:LYB – Free Report) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,205 shares of the specialty chemicals company’s stock after purchasing an additional 876 shares during the period. Eagle Asset Management Inc.’s holdings in LyondellBasell Industries were worth $10,665,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares during the period. Banco Santander S.A. grew its position in LyondellBasell Industries by 9.6% in the 3rd quarter. Banco Santander S.A. now owns 37,852 shares of the specialty chemicals company’s stock worth $3,630,000 after purchasing an additional 3,326 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in shares of LyondellBasell Industries during the 3rd quarter worth about $1,387,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of LyondellBasell Industries by 12.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 104,593 shares of the specialty chemicals company’s stock valued at $10,030,000 after buying an additional 11,825 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in shares of LyondellBasell Industries by 16.7% in the third quarter. Moors & Cabot Inc. now owns 3,304 shares of the specialty chemicals company’s stock valued at $317,000 after buying an additional 473 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
LYB has been the topic of several recent research reports. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Mizuho lowered their price objective on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.70.
LyondellBasell Industries Stock Performance
Shares of LyondellBasell Industries stock opened at $83.87 on Friday. The firm has a 50 day simple moving average of $90.03 and a 200 day simple moving average of $94.31. LyondellBasell Industries has a fifty-two week low of $81.45 and a fifty-two week high of $107.02. 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 firm has a market cap of $27.24 billion, a P/E ratio of 12.77, a P/E/G ratio of 2.31 and a beta of 1.08.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. Sell-side analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.
LyondellBasell Industries Announces Dividend
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 given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 6.39%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is 81.58%.
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.
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