Eastover Investment Advisors LLC Grows Position in LyondellBasell Industries (NYSE:LYB)

Eastover Investment Advisors LLC raised its stake in LyondellBasell Industries (NYSE:LYB) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 67,889 shares of the specialty chemicals company’s stock after purchasing an additional 4,659 shares during the quarter. LyondellBasell Industries accounts for 3.0% of Eastover Investment Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Eastover Investment Advisors LLC’s holdings in LyondellBasell Industries were worth $6,511,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after acquiring an additional 290,401 shares during the period. Pacer Advisors Inc. increased its position in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after buying an additional 170,464 shares in the last quarter. Capital World Investors lifted its holdings in shares of LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of LyondellBasell Industries by 0.6% in the second quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after buying an additional 6,760 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. UBS Group reduced their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, Barclays lowered their price target on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.82.

LyondellBasell Industries Trading Down 1.4 %

Shares of LyondellBasell Industries stock opened at $95.40 on Tuesday. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02. The firm has a market cap of $31.06 billion, a PE ratio of 14.74, a P/E/G ratio of 1.29 and a beta of 1.07. The business’s fifty day moving average is $95.95 and its two-hundred day moving average is $97.65. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. Analysts anticipate that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.62%. LyondellBasell Industries’s payout ratio is 82.84%.

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.