Sigma Planning Corp lifted its position in shares of LyondellBasell Industries (NYSE:LYB – Free Report) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,109 shares of the specialty chemicals company’s stock after acquiring an additional 909 shares during the period. Sigma Planning Corp’s holdings in LyondellBasell Industries were worth $761,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its position in LyondellBasell Industries by 78.4% in the first quarter. Global Retirement Partners LLC now owns 1,108 shares of the specialty chemicals company’s stock worth $99,000 after buying an additional 487 shares during the period. Perpetual Ltd acquired a new stake in LyondellBasell Industries in the first quarter worth $4,526,000. Sandy Spring Bank increased its position in LyondellBasell Industries by 1.4% in the first quarter. Sandy Spring Bank now owns 8,899 shares of the specialty chemicals company’s stock worth $836,000 after buying an additional 126 shares during the period. Truist Financial Corp increased its position in LyondellBasell Industries by 58.2% in the first quarter. Truist Financial Corp now owns 197,824 shares of the specialty chemicals company’s stock worth $18,574,000 after buying an additional 72,774 shares during the period. Finally, Assetmark Inc. increased its position in LyondellBasell Industries by 50.0% in the first quarter. Assetmark Inc. now owns 13,436 shares of the specialty chemicals company’s stock worth $1,262,000 after buying an additional 4,481 shares during the period. 70.58% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries Stock Up 1.4 %
LYB opened at $100.70 on Friday. LyondellBasell Industries has a fifty-two week low of $71.46 and a fifty-two week high of $101.30. The business has a 50-day moving average of $92.16 and a 200-day moving average of $92.70. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.81 and a quick ratio of 1.07. The company has a market capitalization of $32.65 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.41 and a beta of 1.22.
LyondellBasell Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Tuesday, May 30th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.97%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.19. The ex-dividend date was Friday, May 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 77.64%.
Wall Street Analyst Weigh In
LYB has been the topic of a number of research analyst reports. Bank of America raised their price target on LyondellBasell Industries from $92.00 to $99.00 in a report on Monday. KeyCorp raised their price target on LyondellBasell Industries from $80.00 to $85.00 and gave the company an “underweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $100.00 to $110.00 in a report on Monday, May 1st. SpectralCast reaffirmed a “maintains” rating on shares of LyondellBasell Industries in a research note on Thursday, June 29th. Finally, Wells Fargo & Company raised their target price on LyondellBasell Industries from $100.00 to $109.00 and gave the company an “overweight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $98.88.
View Our Latest Research Report on LYB
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.
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