Advisors Asset Management Inc. Buys 2,848 Shares of LyondellBasell Industries (NYSE:LYB)

Advisors Asset Management Inc. increased its stake in LyondellBasell Industries (NYSE:LYB) by 13.3% during the third quarter, Holdings Channel reports. The firm owned 24,307 shares of the specialty chemicals company’s stock after acquiring an additional 2,848 shares during the period. Advisors Asset Management Inc.’s holdings in LyondellBasell Industries were worth $2,331,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. 1832 Asset Management L.P. increased its holdings in LyondellBasell Industries by 5.7% in the 1st quarter. 1832 Asset Management L.P. now owns 20,577 shares of the specialty chemicals company’s stock valued at $2,105,000 after buying an additional 1,111 shares during the period. LRI Investments LLC bought a new position in LyondellBasell Industries in the first quarter valued at approximately $54,000. BOKF NA increased its stake in LyondellBasell Industries by 83.3% in the first quarter. BOKF NA now owns 638 shares of the specialty chemicals company’s stock valued at $65,000 after acquiring an additional 290 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in LyondellBasell Industries by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 348,692 shares of the specialty chemicals company’s stock valued at $35,665,000 after purchasing an additional 3,583 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in LyondellBasell Industries by 3.1% during the first quarter. Public Employees Retirement System of Ohio now owns 135,037 shares of the specialty chemicals company’s stock worth $13,812,000 after purchasing an additional 4,094 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LYB shares. Piper Sandler decreased their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Barclays decreased their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada lowered their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Trading Up 1.3 %

Shares of NYSE LYB opened at $83.87 on Friday. The firm has a 50 day moving average price of $90.03 and a two-hundred day moving average price of $94.31. The stock has a market cap of $27.24 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 2.31 and a beta of 1.08. LyondellBasell Industries has a 52-week low of $81.45 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. As a group, equities analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.39%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

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.