BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stake in LyondellBasell Industries (NYSE:LYB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in LyondellBasell Industries (NYSE:LYB) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,768 shares of the specialty chemicals company’s stock after purchasing an additional 11,700 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in LyondellBasell Industries were worth $8,874,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LYB. Heritage Wealth Advisors purchased a new position in LyondellBasell Industries in the fourth quarter valued at about $27,000. Chilton Capital Management LLC purchased a new position in LyondellBasell Industries in the first quarter valued at about $27,000. Gold Investment Management Ltd. acquired a new stake in shares of LyondellBasell Industries during the fourth quarter valued at about $28,000. Beacon Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter valued at about $28,000. Finally, Blue Trust Inc. grew its stake in shares of LyondellBasell Industries by 311.0% during the second 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.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $98.70 on Friday. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The firm’s 50-day moving average price is $96.24 and its two-hundred day moving average price is $98.37. LyondellBasell Industries has a 52-week low of $88.46 and a 52-week high of $107.02. The stock has a market capitalization of $32.14 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.21 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter last year, the company posted $2.44 earnings per share. LyondellBasell Industries’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that LyondellBasell Industries will post 8.3 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th will be issued a $1.34 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 5.43%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Barclays raised their target price on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft raised their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $107.55.

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.