Hancock Whitney Corp Cuts Position in LyondellBasell Industries (NYSE:LYB)

Hancock Whitney Corp lowered its stake in shares of LyondellBasell Industries (NYSE:LYB) by 27.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,591 shares of the specialty chemicals company’s stock after selling 2,467 shares during the period. Hancock Whitney Corp’s holdings in LyondellBasell Industries were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth $27,000. Beacon Capital Management LLC purchased a new stake in shares of LyondellBasell Industries in the first quarter valued at about $28,000. Heritage Wealth Advisors acquired a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $27,000. Gold Investment Management Ltd. purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $28,000. Finally, Blue Trust Inc. raised its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $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.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $93.60 on Tuesday. The business’s fifty day moving average price is $96.19 and its 200 day moving average price is $97.94. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $30.48 billion, a P/E ratio of 14.47, a PEG ratio of 1.28 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced 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 dividend yield of 5.73%. LyondellBasell Industries’s payout ratio is 82.84%.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of analyst reports. 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 report on Monday, August 5th. JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Finally, UBS Group reduced their price objective 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. One investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.27.

LyondellBasell Industries 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.