Intech Investment Management LLC Buys 55,722 Shares of LyondellBasell Industries (NYSE:LYB)

Intech Investment Management LLC grew its position in shares of LyondellBasell Industries (NYSE:LYB) by 55.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,076 shares of the specialty chemicals company’s stock after buying an additional 55,722 shares during the period. Intech Investment Management LLC’s holdings in LyondellBasell Industries were worth $14,930,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYB. Gryphon Financial Partners LLC boosted its holdings in shares of LyondellBasell Industries by 11.7% during the 4th quarter. Gryphon Financial Partners LLC now owns 18,606 shares of the specialty chemicals company’s stock valued at $1,767,000 after acquiring an additional 1,956 shares in the last quarter. Norges Bank acquired a new position in LyondellBasell Industries during the fourth quarter worth $82,854,000. Wells Fargo & Company MN raised its holdings in shares of LyondellBasell Industries by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 1,390,223 shares of the specialty chemicals company’s stock worth $132,182,000 after acquiring an additional 13,093 shares during the last quarter. Corient Private Wealth LLC boosted its position in shares of LyondellBasell Industries by 373.6% during the fourth quarter. Corient Private Wealth LLC now owns 167,990 shares of the specialty chemicals company’s stock valued at $15,973,000 after buying an additional 132,522 shares during the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in LyondellBasell Industries by 36.0% during the fourth quarter. CreativeOne Wealth LLC now owns 5,311 shares of the specialty chemicals company’s stock worth $505,000 after buying an additional 1,405 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $96.09 on Friday. The company has a market cap of $31.29 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.28 and a beta of 1.07. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. LyondellBasell Industries has a 12 month low of $88.46 and a 12 month high of $107.02. The business’s fifty day simple moving average is $96.25 and its two-hundred day simple moving average is $98.07.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.23 by $0.01. The company had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 earnings per share. Research analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

Analyst Ratings Changes

LYB has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. UBS Group decreased their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $107.27.

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.