Hennion & Walsh Asset Management Inc. Cuts Stock Position in LyondellBasell Industries (NYSE:LYB)

Hennion & Walsh Asset Management Inc. decreased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 8.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,122 shares of the specialty chemicals company’s stock after selling 685 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in LyondellBasell Industries were worth $728,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LYB. Norwood Financial Corp increased its holdings in shares of LyondellBasell Industries by 12.6% during the first quarter. Norwood Financial Corp now owns 2,675 shares of the specialty chemicals company’s stock valued at $274,000 after acquiring an additional 300 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in LyondellBasell Industries in the first quarter worth about $325,000. Sound Income Strategies LLC lifted its stake in shares of LyondellBasell Industries by 9.3% in the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after buying an additional 18,901 shares in the last quarter. Kwmg LLC grew its holdings in shares of LyondellBasell Industries by 2.6% during the first quarter. Kwmg LLC now owns 52,099 shares of the specialty chemicals company’s stock valued at $5,329,000 after buying an additional 1,312 shares during the last quarter. Finally, Unison Advisors LLC increased its position in shares of LyondellBasell Industries by 1.9% during the first quarter. Unison Advisors LLC now owns 38,955 shares of the specialty chemicals company’s stock valued at $3,984,000 after acquiring an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LYB. Barclays increased their target price on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Royal Bank of Canada lifted their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Citigroup upped their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Mizuho raised their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, Wells Fargo & Company boosted their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $105.08.

LyondellBasell Industries Trading Down 1.1 %

Shares of NYSE:LYB opened at $94.64 on Tuesday. 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 has a 12-month low of $87.91 and a 12-month high of $107.02. The company has a market cap of $30.82 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The stock has a 50 day moving average of $98.15 and a 200 day moving average of $98.03.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share 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 analyst estimates of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, equities research analysts expect that LyondellBasell Industries will post 8.5 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a dividend of $1.34 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.66%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

LyondellBasell Industries 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.