Swiss National Bank Lowers Position in LyondellBasell Industries (NYSE:LYB)

Swiss National Bank lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 4.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 777,100 shares of the specialty chemicals company’s stock after selling 33,800 shares during the period. Swiss National Bank owned 0.24% of LyondellBasell Industries worth $79,482,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. McIlrath & Eck LLC raised its position in shares of LyondellBasell Industries by 100.7% in the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 141 shares in the last quarter. Heritage Wealth Advisors purchased a new stake in LyondellBasell Industries during the fourth quarter valued at about $27,000. Gold Investment Management Ltd. purchased a new stake in LyondellBasell Industries during the fourth quarter valued at about $28,000. Venturi Wealth Management LLC raised its position in LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 242 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in LyondellBasell Industries during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.5 %

NYSE:LYB traded up $0.47 during mid-day trading on Monday, reaching $95.53. 57,730 shares of the company’s stock traded hands, compared to its average volume of 1,821,644. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The firm has a market capitalization of $31.11 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The company has a 50 day moving average price of $96.95 and a 200-day moving average price of $97.91.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. The company had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. LyondellBasell Industries’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.50 EPS. On average, sell-side analysts predict that LyondellBasell Industries will post 8.4 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.61%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. LyondellBasell Industries’s payout ratio is presently 82.84%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LYB. UBS Group lowered their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Mizuho raised their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Wells Fargo & Company raised their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Royal Bank of Canada lifted their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $104.77.

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.