Steel Grove Capital Advisors LLC Has $1.71 Million Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Steel Grove Capital Advisors LLC cut its position in shares of LyondellBasell Industries (NYSE:LYB) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,883 shares of the specialty chemicals company’s stock after selling 2,072 shares during the period. Steel Grove Capital Advisors LLC’s holdings in LyondellBasell Industries were worth $1,711,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. DRW Securities LLC bought a new stake in shares of LyondellBasell Industries during the 2nd quarter worth about $215,000. Epoch Investment Partners Inc. boosted its holdings in shares of LyondellBasell Industries by 1.7% during the 2nd quarter. Epoch Investment Partners Inc. now owns 731,782 shares of the specialty chemicals company’s stock worth $70,002,000 after buying an additional 11,989 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of LyondellBasell Industries by 3.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 21,191 shares of the specialty chemicals company’s stock worth $2,027,000 after buying an additional 614 shares during the period. Frank Rimerman Advisors LLC bought a new stake in shares of LyondellBasell Industries during the 2nd quarter worth about $1,852,000. Finally, ProShare Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 19.7% during the 2nd quarter. ProShare Advisors LLC now owns 51,177 shares of the specialty chemicals company’s stock worth $4,896,000 after buying an additional 8,409 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYB has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective 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. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Finally, UBS Group cut their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.27.

LyondellBasell Industries Price Performance

LYB stock opened at $94.04 on Monday. The company has a 50 day simple moving average of $96.23 and a 200 day simple moving average of $97.98. The stock 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. 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 current ratio of 2.10 and a quick ratio of 1.28.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period in the prior year, the firm posted $2.44 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that LyondellBasell Industries will post 8 EPS 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 paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 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.