Moors & Cabot Inc. Sells 462 Shares of LyondellBasell Industries (NYSE:LYB)

Moors & Cabot Inc. cut its stake in shares of LyondellBasell Industries (NYSE:LYB) by 14.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,831 shares of the specialty chemicals company’s stock after selling 462 shares during the period. Moors & Cabot Inc.’s holdings in LyondellBasell Industries were worth $271,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYB. Heritage Wealth Advisors purchased a new stake in LyondellBasell Industries during the fourth quarter valued at $27,000. Chilton Capital Management LLC purchased a new stake in shares of LyondellBasell Industries during the 1st quarter valued at about $27,000. Gold Investment Management Ltd. bought a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $28,000. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries in the first quarter worth approximately $28,000. Finally, Blue Trust Inc. grew its position in LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $94.04 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. The firm has a market cap of $30.62 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 1.28 and a beta of 1.07. The firm has a fifty day moving average price of $96.23 and a 200 day moving average price of $98.02. 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 for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The firm had revenue of $10.56 billion during 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.44 earnings per share. As a group, sell-side analysts expect that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued 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 5.70%. LyondellBasell Industries’s dividend payout ratio (DPR) is 82.84%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. UBS Group reduced their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $107.27.

LyondellBasell Industries Company 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.