Cambridge Investment Research Advisors Inc. trimmed its stake in LyondellBasell Industries (NYSE:LYB – Free Report) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,298 shares of the specialty chemicals company’s stock after selling 568 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in LyondellBasell Industries were worth $3,241,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Lantz Financial LLC lifted its stake in shares of LyondellBasell Industries by 30.2% in the 2nd quarter. Lantz Financial LLC now owns 3,033 shares of the specialty chemicals company’s stock valued at $279,000 after purchasing an additional 703 shares during the period. Foundry Partners LLC bought a new position in shares of LyondellBasell Industries during the 2nd quarter worth approximately $16,144,000. First Bank & Trust grew its position in shares of LyondellBasell Industries by 125.4% during the 2nd quarter. First Bank & Trust now owns 34,065 shares of the specialty chemicals company’s stock worth $3,128,000 after buying an additional 18,953 shares during the period. Juncture Wealth Strategies LLC increased its stake in shares of LyondellBasell Industries by 18.5% in the 2nd quarter. Juncture Wealth Strategies LLC now owns 7,663 shares of the specialty chemicals company’s stock valued at $704,000 after acquiring an additional 1,198 shares in the last quarter. Finally, Paragon Capital Management Ltd acquired a new position in shares of LyondellBasell Industries during the 2nd quarter valued at $226,000. 91.41% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. 888 reaffirmed a “maintains” rating on shares of LyondellBasell Industries in a research note on Thursday, June 29th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Royal Bank of Canada cut their price target on LyondellBasell Industries from $121.00 to $116.00 and set an “outperform” rating on the stock in a report on Wednesday, August 9th. Wells Fargo & Company increased their price target on LyondellBasell Industries from $100.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Finally, Bank of America increased their price target on LyondellBasell Industries from $92.00 to $99.00 in a report on Monday, August 7th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.06.
Insiders Place Their Bets
In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total value of $975,600.00. Following the completion of the transaction, the executive vice president now directly owns 49,876 shares in the company, valued at $4,865,902.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total value of $975,600.00. Following the completion of the transaction, the executive vice president now directly owns 49,876 shares in the company, valued at $4,865,902.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ai Investments Holdings Llc sold 483 shares of LyondellBasell Industries stock in a transaction on Friday, August 11th. The shares were sold at an average price of $99.61, for a total value of $48,111.63. Following the completion of the transaction, the insider now owns 765,996 shares of the company’s stock, valued at $76,300,861.56. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.
LyondellBasell Industries Stock Performance
NYSE:LYB opened at $94.97 on Thursday. 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 business has a fifty day simple moving average of $97.39 and a two-hundred day simple moving average of $93.13. LyondellBasell Industries has a 1 year low of $73.24 and a 1 year high of $102.04. The company has a market capitalization of $30.79 billion, a P/E ratio of 14.73, a P/E/G ratio of 2.44 and a beta of 1.21.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last released its earnings results on Friday, August 4th. The specialty chemicals company reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.14. LyondellBasell Industries had a return on equity of 21.31% and a net margin of 4.92%. The business had revenue of $10.31 billion during the quarter, compared to the consensus estimate of $10.79 billion. During the same period last year, the business posted $5.19 earnings per share. The business’s revenue for the quarter was down 30.5% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries will post 8.15 earnings per share for the current year.
LyondellBasell Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 28th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend was Friday, August 25th. LyondellBasell Industries’s dividend payout ratio is currently 77.64%.
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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