LyondellBasell Industries (NYSE:LYB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of LyondellBasell Industries (NYSE:LYB) by 23.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 26,111 shares of the specialty chemicals company’s stock after selling 8,106 shares during the period. Allspring Global Investments Holdings LLC’s holdings in LyondellBasell Industries were worth $2,671,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LYB. McIlrath & Eck LLC raised its position in LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 141 shares in the last quarter. Heritage Wealth Advisors purchased a new position in shares of LyondellBasell Industries during the 4th quarter valued at approximately $27,000. Gold Investment Management Ltd. acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at $28,000. Venturi Wealth Management LLC boosted its holdings in LyondellBasell Industries by 410.2% during 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 in the last quarter. Finally, Scarborough Advisors LLC purchased a new position in LyondellBasell Industries in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.3 %

Shares of LyondellBasell Industries stock opened at $94.93 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $98.03 and its 200-day simple moving average is $98.03. The stock has a market cap of $30.91 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.18 and a beta of 1.09. LyondellBasell Industries has a 1-year low of $87.91 and a 1-year high of $107.02.

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

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 dividend on an annualized basis and a yield of 5.65%. LyondellBasell Industries’s payout ratio is 82.84%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYB. BMO Capital Markets increased their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. raised their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Mizuho upped their target price on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada increased their target price on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company boosted their price target on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $105.08.

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.