Park Place Capital Corp Sells 831 Shares of LyondellBasell Industries (NYSE:LYB)

Park Place Capital Corp cut its stake in shares of LyondellBasell Industries (NYSE:LYB) by 15.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,700 shares of the specialty chemicals company’s stock after selling 831 shares during the period. Park Place Capital Corp’s holdings in LyondellBasell Industries were worth $451,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norden Group LLC bought a new position in LyondellBasell Industries during the 1st quarter valued at $3,686,000. Sound Income Strategies LLC raised its stake in shares of LyondellBasell Industries by 9.3% during the 1st quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after purchasing an additional 18,901 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of LyondellBasell Industries by 8.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares during the period. Brevan Howard Capital Management LP raised its stake in shares of LyondellBasell Industries by 772.9% during the 4th quarter. Brevan Howard Capital Management LP now owns 20,914 shares of the specialty chemicals company’s stock worth $1,989,000 after purchasing an additional 18,518 shares during the period. Finally, Banco Santander S.A. bought a new stake in shares of LyondellBasell Industries during the 1st quarter worth $3,607,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

LYB stock traded down $1.19 during mid-day trading on Tuesday, reaching $94.20. 591,851 shares of the company traded hands, compared to its average volume of 1,822,822. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. The company has a market capitalization of $30.67 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.29 and a beta of 1.07. LyondellBasell Industries has a 52-week low of $88.46 and a 52-week high of $107.02. The company has a fifty day moving average price of $95.95 and a 200-day moving average price of $97.65.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The business 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%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, analysts anticipate that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 5.69%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is presently 82.84%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LYB. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Wells Fargo & Company lowered 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. Deutsche Bank Aktiengesellschaft lifted 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. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Finally, Barclays lowered their price objective on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $106.82.

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.