Hohimer Wealth Management LLC Acquires 29,680 Shares of LyondellBasell Industries N.V. $LYB

Hohimer Wealth Management LLC acquired a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,680 shares of the specialty chemicals company’s stock, valued at approximately $1,706,000.

Several other institutional investors also recently modified their holdings of LYB. Fortitude Family Office LLC grew its position in LyondellBasell Industries by 221.0% in the third quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 347 shares in the last quarter. Kelleher Financial Advisors raised its position in LyondellBasell Industries by 4,112.5% during the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock valued at $35,000 after purchasing an additional 658 shares in the last quarter. Versant Capital Management Inc raised its position in LyondellBasell Industries by 148.8% during the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock valued at $50,000 after purchasing an additional 570 shares in the last quarter. Contravisory Investment Management Inc. purchased a new stake in LyondellBasell Industries during the second quarter valued at about $53,000. Finally, Pinnacle Bancorp Inc. boosted its holdings in shares of LyondellBasell Industries by 26.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock worth $55,000 after purchasing an additional 199 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Trading Down 2.1%

NYSE LYB opened at $59.43 on Tuesday. The firm has a market cap of $19.21 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94. The stock has a 50-day moving average of $62.60 and a 200-day moving average of $63.96. The company has a current ratio of 1.78, a quick ratio of 1.18 and a debt-to-equity ratio of 0.99.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.57 by ($0.03). The company had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.87 billion. LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. LyondellBasell Industries’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts forecast that LyondellBasell Industries N.V. will post 9.08 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were issued a $0.69 dividend. The ex-dividend date was Monday, August 24th. This represents a $2.76 annualized dividend and a dividend yield of 4.6%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 69.70%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LYB shares. Morgan Stanley reduced their price objective on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating on the stock in a research report on Monday, July 20th. Bank of America reaffirmed an “underperform” rating and issued a $66.00 target price on shares of LyondellBasell Industries in a research note on Monday, November 2nd. Citigroup upped their target price on LyondellBasell Industries from $63.00 to $74.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 3rd. Royal Bank Of Canada increased their price target on shares of LyondellBasell Industries from $68.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. Finally, UBS Group lifted their price target on shares of LyondellBasell Industries from $62.00 to $69.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.22.

About LyondellBasell Industries

LyondellBasell Industries (NYSE: LYB) is a global chemicals and plastics company that makes materials and products used by manufacturers in a range of industries. Its businesses span the production of olefins, such as ethylene and propylene, and polyolefins, including polyethylene and polypropylene.

The company also produces intermediates and derivatives, develops advanced polymer compounds, and provides chemical-process technology and related services. Its products are used in applications including packaging, transportation, construction, consumer goods and healthcare.

Formed in 2007 through the merger of Lyondell Chemical Company and Basell, LyondellBasell serves customers around the world through manufacturing and commercial operations across multiple regions.