Asset Management One Co. Ltd. Sells 2,944 Shares of LyondellBasell Industries (NYSE:LYB)

Asset Management One Co. Ltd. reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 119,435 shares of the specialty chemicals company’s stock after selling 2,944 shares during the quarter. Asset Management One Co. Ltd.’s holdings in LyondellBasell Industries were worth $11,454,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC increased its position in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares during the period. Chilton Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the first quarter valued at about $27,000. Beacon Capital Management LLC bought a new position in LyondellBasell Industries in the first quarter worth about $28,000. Matrix Trust Co purchased a new stake in LyondellBasell Industries in the third quarter worth about $30,000. Finally, Blue Trust Inc. boosted its position in LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on LYB shares. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday. JPMorgan Chase & Co. lowered their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average target price of $100.56.

LyondellBasell Industries Stock Up 1.3 %

Shares of LyondellBasell Industries stock opened at $86.44 on Thursday. The company has a 50-day simple moving average of $92.81 and a two-hundred day simple moving average of $95.71. LyondellBasell Industries has a 52-week low of $83.36 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The stock has a market capitalization of $28.07 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 1.63 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the previous year, the firm earned $2.46 earnings per share. LyondellBasell Industries’s revenue was down 2.8% on a year-over-year basis. On average, analysts anticipate that LyondellBasell Industries will post 7.38 EPS 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 issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is currently 81.58%.

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.