LyondellBasell Industries (NYSE:LYB) Shares Sold by American International Group Inc.

American International Group Inc. decreased its holdings in LyondellBasell Industries (NYSE:LYB) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 67,215 shares of the specialty chemicals company’s stock after selling 577 shares during the quarter. American International Group Inc.’s holdings in LyondellBasell Industries were worth $6,391,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new position in LyondellBasell Industries in the third quarter worth approximately $25,000. McIlrath & Eck LLC grew its position in LyondellBasell Industries by 100.7% in the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after buying an additional 141 shares during the last quarter. Heritage Wealth Advisors acquired a new position in LyondellBasell Industries in the fourth quarter worth approximately $27,000. Gold Investment Management Ltd. acquired a new position in LyondellBasell Industries in the fourth quarter worth approximately $28,000. Finally, Venturi Wealth Management LLC grew its position in LyondellBasell Industries by 410.2% in the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 242 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on LYB. Wells Fargo & Company raised their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Citigroup raised their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Barclays raised their price objective on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Royal Bank of Canada raised their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $105.08.

LyondellBasell Industries Trading Down 0.3 %

Shares of NYSE:LYB opened at $95.08 on Friday. The stock has a market capitalization of $30.96 billion, a PE ratio of 14.70, a P/E/G ratio of 1.18 and a beta of 1.13. LyondellBasell Industries has a 1 year low of $86.64 and a 1 year high of $107.02. The firm has a fifty day moving average price of $98.66 and a 200 day moving average price of $97.82. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 earnings per share. Analysts expect that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a $1.34 dividend. The ex-dividend date was Monday, June 3rd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 dividend on an annualized basis and a yield of 5.64%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

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.