QS Investors LLC reduced its position in LyondellBasell Industries (NYSE:LYB) by 42.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,694 shares of the specialty chemicals company’s stock after selling 18,519 shares during the quarter. QS Investors LLC’s holdings in LyondellBasell Industries were worth $2,541,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Samalin Investment Counsel LLC purchased a new stake in shares of LyondellBasell Industries during the 2nd quarter worth $29,000. Liberty Wealth Management LLC boosted its position in shares of LyondellBasell Industries by 10,187.9% in the 2nd quarter. Liberty Wealth Management LLC now owns 3,395 shares of the specialty chemicals company’s stock worth $33,000 after buying an additional 3,362 shares in the last quarter. Sittner & Nelson LLC boosted its position in shares of LyondellBasell Industries by 40.0% in the 2nd quarter. Sittner & Nelson LLC now owns 350 shares of the specialty chemicals company’s stock worth $36,000 after buying an additional 100 shares in the last quarter. Joseph P. Lucia & Associates LLC purchased a new stake in shares of LyondellBasell Industries in the 2nd quarter worth about $51,000. Finally, Red Door Wealth Management LLC purchased a new stake in shares of LyondellBasell Industries in the 2nd quarter worth about $57,000. Institutional investors own 69.35% of the company’s stock.
Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $125.00 to $108.00 and set a “hold” rating on the stock in a research report on Monday, August 2nd. Redburn Partners assumed coverage on shares of LyondellBasell Industries in a research report on Tuesday, October 5th. They issued a “buy” rating on the stock. Zacks Investment Research lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “hold” rating and set a $109.00 price objective on the stock. in a research report on Tuesday, August 17th. Bank of America lowered shares of LyondellBasell Industries from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $117.00 to $114.00 in a research report on Friday, July 16th. Finally, Mizuho initiated coverage on shares of LyondellBasell Industries in a research note on Tuesday. They issued a “buy” rating and a $125.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $106.60.
LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, July 30th. The specialty chemicals company reported $6.13 EPS for the quarter, beating the Zacks’ consensus estimate of $5.67 by $0.46. LyondellBasell Industries had a net margin of 11.59% and a return on equity of 49.55%. The company had revenue of $11.56 billion during the quarter, compared to the consensus estimate of $11.09 billion. During the same quarter in the prior year, the company posted $0.71 EPS. The company’s quarterly revenue was up 108.5% compared to the same quarter last year. As a group, equities research analysts anticipate that LyondellBasell Industries will post 19.79 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 30th were paid a dividend of $1.13 per share. This represents a $4.52 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date was Friday, August 27th. LyondellBasell Industries’s dividend payout ratio is currently 80.57%.
About LyondellBasell Industries
LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.
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