Creative Planning Cuts Stake in LyondellBasell Industries (NYSE:LYB)

Creative Planning cut its stake in LyondellBasell Industries (NYSE:LYB) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,142 shares of the specialty chemicals company’s stock after selling 2,718 shares during the quarter. Creative Planning’s holdings in LyondellBasell Industries were worth $3,178,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Rockland Trust Co. grew its stake in shares of LyondellBasell Industries by 0.9% during the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after acquiring an additional 112 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of LyondellBasell Industries by 0.9% during the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after acquiring an additional 120 shares in the last quarter. RDA Financial Network grew its stake in shares of LyondellBasell Industries by 3.9% during the second quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock valued at $313,000 after acquiring an additional 122 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of LyondellBasell Industries by 25.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 122 shares in the last quarter. Finally, Ignite Planners LLC grew its stake in LyondellBasell Industries by 1.6% in the second quarter. Ignite Planners LLC now owns 8,582 shares of the specialty chemicals company’s stock worth $803,000 after purchasing an additional 132 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft lifted their price target 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. Royal Bank of Canada decreased their price target on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, Barclays decreased their price target on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.33.

LyondellBasell Industries Trading Down 1.1 %

Shares of NYSE:LYB opened at $87.50 on Friday. LyondellBasell Industries has a fifty-two week low of $87.41 and a fifty-two week high of $107.02. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The company has a market cap of $28.49 billion, a PE ratio of 13.52, a P/E/G ratio of 1.69 and a beta of 1.07. The company’s 50-day moving average price is $94.55 and its 200 day moving average price is $96.58.

LyondellBasell Industries (NYSE:LYB) last released its quarterly 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. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that LyondellBasell Industries will post 7.53 earnings per share for the current 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 $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 6.13%. LyondellBasell Industries’s payout ratio is 82.84%.

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.