Argent Trust Co Trims Stock Position in LyondellBasell Industries (NYSE:LYB)

Argent Trust Co reduced its stake in LyondellBasell Industries (NYSE:LYB) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,069 shares of the specialty chemicals company’s stock after selling 2,369 shares during the quarter. Argent Trust Co’s holdings in LyondellBasell Industries were worth $2,207,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Heritage Wealth Advisors acquired a new position in LyondellBasell Industries in the 4th quarter valued at $27,000. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries during the first quarter worth about $27,000. Gold Investment Management Ltd. purchased a new position in LyondellBasell Industries during the fourth quarter worth about $28,000. Beacon Capital Management LLC acquired a new stake in LyondellBasell Industries in the first quarter valued at about $28,000. Finally, Blue Trust Inc. boosted its holdings in LyondellBasell Industries by 311.0% in 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 in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $93.94 on Thursday. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The company’s 50 day simple moving average is $96.22 and its 200 day simple moving average is $98.09. The company has a market capitalization of $30.59 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 EPS. On average, sell-side analysts predict that LyondellBasell Industries will post 8 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 5.71%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LYB. JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft raised their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. UBS Group lowered 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 note on Tuesday, July 9th. Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, Evercore ISI upgraded 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 assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently 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.