Wedmont Private Capital Buys 467 Shares of LyondellBasell Industries (NYSE:LYB)

Wedmont Private Capital lifted its stake in shares of LyondellBasell Industries (NYSE:LYB) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,135 shares of the specialty chemicals company’s stock after purchasing an additional 467 shares during the period. Wedmont Private Capital’s holdings in LyondellBasell Industries were worth $394,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LYB. Norden Group LLC acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth about $3,686,000. Sound Income Strategies LLC boosted its stake in shares of LyondellBasell Industries by 9.3% during the 1st quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after acquiring an additional 18,901 shares during the period. State Board of Administration of Florida Retirement System raised its stake in LyondellBasell Industries by 8.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after acquiring an additional 21,809 shares during the period. Banco Santander S.A. bought a new position in LyondellBasell Industries during the first quarter worth $3,607,000. Finally, Foresight Capital Management Advisors Inc. acquired a new position in shares of LyondellBasell Industries in the second quarter valued at $1,416,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $93.79 on Friday. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The company has a market cap of $30.49 billion, a P/E ratio of 13.19, a P/E/G ratio of 1.32 and a beta of 1.07. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The business has a fifty day simple moving average of $95.64 and a 200 day simple moving average of $97.45.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The firm had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. On average, sell-side analysts forecast that LyondellBasell Industries will post 7.8 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is 75.39%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LYB shares. Barclays cut their price objective on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. UBS Group decreased their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average price target of $106.40.

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.