Intact Investment Management Inc. Buys 8,650 Shares of LyondellBasell Industries (NYSE:LYB)

Intact Investment Management Inc. increased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 15.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,050 shares of the specialty chemicals company’s stock after buying an additional 8,650 shares during the quarter. Intact Investment Management Inc.’s holdings in LyondellBasell Industries were worth $6,142,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CVA Family Office LLC grew its stake in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in LyondellBasell Industries in the 1st quarter valued at about $27,000. Beacon Capital Management LLC bought a new position in shares of LyondellBasell Industries during the 1st quarter worth approximately $28,000. Matrix Trust Co purchased a new position in shares of LyondellBasell Industries in the 3rd quarter worth approximately $30,000. Finally, Blue Trust Inc. grew its holdings in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Royal Bank of Canada dropped their price target on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Barclays cut their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday. UBS Group lowered their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $105.89.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $86.66 on Monday. The company has a 50 day moving average of $93.56 and a 200 day moving average of $95.99. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The stock has a market cap of $28.17 billion, a P/E ratio of 12.17, a P/E/G ratio of 1.64 and a beta of 1.08. LyondellBasell Industries has a 12 month low of $85.64 and a 12 month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.15). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 7.53 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 6.19%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 75.39%.

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.