Sequoia Financial Advisors LLC Grows Position in LyondellBasell Industries (NYSE:LYB)

Sequoia Financial Advisors LLC boosted its stake in LyondellBasell Industries (NYSE:LYB) by 45.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,459 shares of the specialty chemicals company’s stock after buying an additional 3,284 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in LyondellBasell Industries were worth $1,003,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC increased its position in shares of LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of LyondellBasell Industries during the 1st quarter valued at $27,000. Beacon Capital Management LLC purchased a new stake in shares of LyondellBasell Industries during the 1st quarter valued at $28,000. Matrix Trust Co purchased a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at $30,000. Finally, Blue Trust Inc. increased its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Down 1.1 %

Shares of NYSE LYB opened at $87.50 on Friday. LyondellBasell Industries has a 52 week low of $87.41 and a 52 week high of $107.02. The business has a 50-day simple moving average of $94.74 and a two-hundred day simple moving average of $96.69. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The company has a market cap of $28.49 billion, a P/E ratio of 13.52, a P/E/G ratio of 1.69 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the company earned $2.44 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.13%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. decreased their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, October 11th. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $106.33.

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.