LyondellBasell Industries (NYSE:LYB) Shares Sold by M&G Plc

M&G Plc decreased its position in shares of LyondellBasell Industries (NYSE:LYB) by 65.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 12,710 shares of the specialty chemicals company’s stock after selling 24,555 shares during the quarter. M&G Plc’s holdings in LyondellBasell Industries were worth $1,220,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LYB. Spire Wealth Management increased its position in LyondellBasell Industries by 4.2% in the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock valued at $259,000 after acquiring an additional 102 shares during the period. Lantz Financial LLC raised its holdings in shares of LyondellBasell Industries by 3.6% in the 1st quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock worth $325,000 after purchasing an additional 109 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in LyondellBasell Industries by 1.2% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,567 shares of the specialty chemicals company’s stock worth $910,000 after buying an additional 114 shares during the last quarter. Metis Global Partners LLC raised its position in shares of LyondellBasell Industries by 0.9% during the fourth quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock worth $1,261,000 after purchasing an additional 115 shares during the period. Finally, RDA Financial Network boosted its position in shares of LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock valued at $313,000 after purchasing an additional 122 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on LYB. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. UBS Group reduced their target price 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. raised their price target on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada upped their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, BMO Capital Markets raised their target price on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average target price of $107.55.

LyondellBasell Industries Stock Performance

NYSE LYB traded up $0.88 during midday trading on Tuesday, hitting $96.62. The company had a trading volume of 905,163 shares, compared to its average volume of 1,776,206. The firm has a fifty day simple moving average of $95.71 and a two-hundred day simple moving average of $98.18. The stock has a market cap of $31.46 billion, a price-to-earnings ratio of 14.93, a P/E/G ratio of 1.21 and a beta of 1.09. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02.

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

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders 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 represents a $5.36 dividend on an annualized basis and a yield of 5.55%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is currently 82.84%.

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.