Park Place Capital Corp Sells 831 Shares of LyondellBasell Industries (NYSE:LYB)

Park Place Capital Corp lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 15.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,700 shares of the specialty chemicals company’s stock after selling 831 shares during the quarter. Park Place Capital Corp’s holdings in LyondellBasell Industries were worth $451,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new stake in LyondellBasell Industries during the 1st quarter valued at approximately $27,000. Beacon Capital Management LLC acquired a new stake in LyondellBasell Industries during the 1st quarter valued at approximately $28,000. Blue Trust Inc. increased its position in LyondellBasell Industries by 311.0% during 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 period. Scarborough Advisors LLC acquired a new stake in LyondellBasell Industries during the 4th quarter valued at approximately $37,000. Finally, Independence Bank of Kentucky increased its position in LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 216 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 1.2 %

NYSE LYB traded down $1.19 during mid-day trading on Tuesday, hitting $94.20. The company’s stock had a trading volume of 591,851 shares, compared to its average volume of 1,822,822. The company’s 50 day simple moving average is $95.95 and its 200 day simple moving average is $97.65. 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 firm has a market capitalization of $30.67 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.29 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the firm posted $2.44 EPS. LyondellBasell Industries’s revenue was up 2.4% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is currently 82.84%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LYB. Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Barclays reduced their price objective on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective 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. Finally, UBS Group reduced their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $106.82.

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.