State of Alaska Department of Revenue Sells 5,245 Shares of LyondellBasell Industries (NYSE:LYB)

State of Alaska Department of Revenue decreased its holdings in LyondellBasell Industries (NYSE:LYB) by 10.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,414 shares of the specialty chemicals company’s stock after selling 5,245 shares during the period. State of Alaska Department of Revenue’s holdings in LyondellBasell Industries were worth $4,440,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LYB. McIlrath & Eck LLC lifted its holdings in shares of LyondellBasell Industries by 100.7% in the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 141 shares during the last quarter. Heritage Wealth Advisors bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $27,000. Gold Investment Management Ltd. bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $28,000. Venturi Wealth Management LLC lifted its holdings in shares of LyondellBasell Industries by 410.2% in the 4th quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 242 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $37,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB opened at $95.17 on Friday. The firm has a market cap of $30.99 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09. The firm’s 50 day simple moving average is $97.80 and its 200-day simple moving average is $98.01. LyondellBasell Industries has a one year low of $87.91 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same period last year, the company posted $2.50 earnings per share. The company’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that LyondellBasell Industries will post 8.5 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.63%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 82.84%.

Analyst Upgrades and Downgrades

LYB has been the topic of a number of recent analyst reports. Mizuho increased their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. BMO Capital Markets increased their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. increased their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Royal Bank of Canada increased their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company increased their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $105.08.

LyondellBasell Industries Company 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.