AE Wealth Management LLC Sells 54,946 Shares of LyondellBasell Industries (NYSE:LYB)

AE Wealth Management LLC cut its holdings in LyondellBasell Industries (NYSE:LYB) by 27.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,519 shares of the specialty chemicals company’s stock after selling 54,946 shares during the quarter. AE Wealth Management LLC’s holdings in LyondellBasell Industries were worth $13,920,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in LYB. Gryphon Financial Partners LLC lifted its stake in LyondellBasell Industries by 11.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 18,606 shares of the specialty chemicals company’s stock worth $1,767,000 after acquiring an additional 1,956 shares during the period. Norges Bank purchased a new stake in LyondellBasell Industries in the fourth quarter worth about $82,854,000. Corient Private Wealth LLC lifted its stake in LyondellBasell Industries by 373.6% in the fourth quarter. Corient Private Wealth LLC now owns 167,990 shares of the specialty chemicals company’s stock worth $15,973,000 after acquiring an additional 132,522 shares during the period. CreativeOne Wealth LLC lifted its stake in LyondellBasell Industries by 36.0% in the fourth quarter. CreativeOne Wealth LLC now owns 5,311 shares of the specialty chemicals company’s stock worth $505,000 after acquiring an additional 1,405 shares during the period. Finally, Assetmark Inc. lifted its stake in LyondellBasell Industries by 12.3% in the fourth quarter. Assetmark Inc. now owns 20,796 shares of the specialty chemicals company’s stock worth $1,977,000 after acquiring an additional 2,285 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on LYB shares. UBS Group decreased their price target 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. JPMorgan Chase & Co. decreased their price target 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. Wells Fargo & Company decreased their price target 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. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $107.27.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $94.04 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The stock has a 50 day moving average of $96.23 and a two-hundred day moving average of $98.02. The stock has a market cap of $30.62 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.28 and a beta of 1.07.

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 company 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%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 8 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm 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. This represents a $5.36 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend was Monday, August 26th. 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.