LyondellBasell Industries (NYSE:LYB) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in LyondellBasell Industries (NYSE:LYB) by 39.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 87,901 shares of the specialty chemicals company’s stock after selling 56,386 shares during the period. State of New Jersey Common Pension Fund D’s holdings in LyondellBasell Industries were worth $8,409,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Spire Wealth Management lifted its stake in LyondellBasell Industries by 4.2% in the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock worth $259,000 after purchasing an additional 102 shares in the last quarter. Lantz Financial LLC lifted its stake in LyondellBasell Industries by 3.6% in the 1st quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock worth $325,000 after purchasing an additional 109 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in LyondellBasell Industries by 0.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 120 shares in the last quarter. RDA Financial Network lifted its stake in LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in LyondellBasell Industries by 11.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,228 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 125 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $93.18 on Friday. The firm’s fifty day simple moving average is $96.17 and its 200-day simple moving average is $98.20. 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 stock has a market cap of $30.34 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (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 firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. LyondellBasell Industries’s revenue was up 2.4% on a year-over-year basis. Analysts expect that LyondellBasell Industries will post 8 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. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.75%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. UBS Group reduced their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus price target of $107.27.

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.