Benjamin Edwards Inc. Grows Position in LyondellBasell Industries (NYSE:LYB)

Benjamin Edwards Inc. increased its position in shares of LyondellBasell Industries (NYSE:LYB) by 1,952.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,812 shares of the specialty chemicals company’s stock after buying an additional 2,675 shares during the quarter. Benjamin Edwards Inc.’s holdings in LyondellBasell Industries were worth $269,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Heritage Wealth Advisors purchased a new position in LyondellBasell Industries during the 4th quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at approximately $27,000. Gold Investment Management Ltd. purchased a new position in shares of LyondellBasell Industries in the 4th quarter valued at approximately $28,000. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at approximately $28,000. Finally, Blue Trust Inc. grew its stake in shares of 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 during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on LYB shares. Deutsche Bank Aktiengesellschaft lifted their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. UBS Group lowered their target price on 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 lowered their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $107.27.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $94.04 on Friday. The stock has a fifty day moving average price of $96.23 and a 200 day moving average price of $98.00. The stock has a market cap of $30.62 billion, a PE ratio of 14.53, a P/E/G ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. 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 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. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. Sell-side analysts forecast that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.70%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

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.