Fairhaven Wealth Management LLC Has $2.12 Million Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Fairhaven Wealth Management LLC grew its stake in shares of LyondellBasell Industries (NYSE:LYB) by 4.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 22,133 shares of the specialty chemicals company’s stock after purchasing an additional 938 shares during the period. Fairhaven Wealth Management LLC’s holdings in LyondellBasell Industries were worth $2,117,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in LyondellBasell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after purchasing an additional 290,401 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of LyondellBasell Industries by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,683,892 shares of the specialty chemicals company’s stock worth $540,424,000 after purchasing an additional 33,212 shares during the period. Capital World Investors boosted its holdings in shares of LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after purchasing an additional 600,554 shares during the period. Wells Fargo & Company MN lifted its holdings in LyondellBasell Industries by 1.0% in the fourth quarter. Wells Fargo & Company MN now owns 1,390,223 shares of the specialty chemicals company’s stock worth $132,182,000 after buying an additional 13,093 shares during the period. Finally, Raymond James & Associates lifted its holdings in LyondellBasell Industries by 5.7% in the second quarter. Raymond James & Associates now owns 909,144 shares of the specialty chemicals company’s stock worth $86,969,000 after buying an additional 49,190 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Performance

NYSE:LYB traded up $0.53 during trading hours on Friday, reaching $98.70. 3,213,472 shares of the company’s stock were exchanged, compared to its average volume of 1,641,933. The firm has a market capitalization of $32.09 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 1.33 and a beta of 1.09. The company has a 50-day moving average of $96.31 and a 200 day moving average of $98.41. 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 has a 1-year low of $88.46 and a 1-year high of $107.02.

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 firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. LyondellBasell Industries’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 EPS. Research analysts anticipate that LyondellBasell Industries will post 8.11 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders 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 dividend yield of 5.43%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LYB shares. Barclays raised their target price on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their price objective 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. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $107.55.

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.