LyondellBasell Industries (NYSE:LYB) Shares Sold by tru Independence LLC

tru Independence LLC cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 2.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 52,051 shares of the specialty chemicals company’s stock after selling 1,517 shares during the period. LyondellBasell Industries makes up about 1.6% of tru Independence LLC’s portfolio, making the stock its 29th largest holding. tru Independence LLC’s holdings in LyondellBasell Industries were worth $5,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Capital World Investors acquired a new stake in LyondellBasell Industries in the 4th quarter worth about $197,305,000. Pacer Advisors Inc. boosted its stake in shares of LyondellBasell Industries by 35.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after acquiring an additional 935,430 shares during the last quarter. Norges Bank acquired a new position in LyondellBasell Industries in the 4th quarter valued at $82,854,000. Morgan Stanley raised its stake in LyondellBasell Industries by 9.9% in the 3rd quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock valued at $597,140,000 after purchasing an additional 569,887 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in LyondellBasell Industries by 826.1% in the 4th quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock valued at $38,911,000 after purchasing an additional 365,050 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.1 %

Shares of LyondellBasell Industries stock traded up $0.07 on Tuesday, reaching $94.71. The company had a trading volume of 234,223 shares, compared to its average volume of 1,852,874. The firm’s 50 day moving average price is $98.15 and its two-hundred day moving average price is $98.03. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. LyondellBasell Industries has a 52-week low of $87.91 and a 52-week high of $107.02. The firm has a market cap of $30.84 billion, a PE ratio of 14.63, a PEG ratio of 1.18 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last announced its 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. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same quarter in the previous year, the company earned $2.50 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Sell-side analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a $1.34 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a yield of 5.66%. The ex-dividend date was Monday, June 3rd. LyondellBasell Industries’s payout ratio is currently 82.84%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LYB shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. Citigroup raised their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped 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. 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 research report on Monday, April 29th. Finally, JPMorgan Chase & Co. upped their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $105.08.

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.