DT Investment Partners LLC Sells 2,071 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

DT Investment Partners LLC cut its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,412 shares of the specialty chemicals company’s stock after selling 2,071 shares during the quarter. DT Investment Partners LLC’s holdings in LyondellBasell Industries were worth $663,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rossby Financial LCC acquired a new position in LyondellBasell Industries during the first quarter worth $25,000. JFS Wealth Advisors LLC boosted its holdings in LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 310 shares during the last quarter. Lazard Asset Management LLC lifted its stake in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 214 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of LyondellBasell Industries during the fourth quarter worth about $37,000. Finally, Covestor Ltd raised its position in shares of LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 284 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Down 0.9%

NYSE LYB opened at $62.00 on Friday. The business’s 50-day moving average price is $58.32 and its two-hundred day moving average price is $66.91. LyondellBasell Industries N.V. has a 12 month low of $51.11 and a 12 month high of $100.46. The firm has a market capitalization of $19.93 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.65 and a beta of 0.82. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the company earned $1.53 EPS. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were given a dividend of $1.37 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.48 annualized dividend and a dividend yield of 8.84%. LyondellBasell Industries’s dividend payout ratio is presently 169.14%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. UBS Group reissued a “sell” rating and issued a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Bank Of America (Bofa) reduced their price target on LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. BMO Capital Markets dropped their price objective on LyondellBasell Industries from $65.00 to $60.00 in a report on Friday, June 27th. Fermium Researc raised LyondellBasell Industries to a “strong-buy” rating in a report on Friday, April 25th. Finally, Royal Bank Of Canada boosted their price target on LyondellBasell Industries from $61.00 to $64.00 and gave the stock a “sector perform” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.31.

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.