LyondellBasell Industries (NYSE:LYB) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. reduced its position in LyondellBasell Industries (NYSE:LYB) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,523 shares of the specialty chemicals company’s stock after selling 3,320 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in LyondellBasell Industries were worth $5,120,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Chilton Capital Management LLC acquired a new position in LyondellBasell Industries in the first quarter worth about $27,000. Beacon Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the 1st quarter worth approximately $28,000. Heritage Wealth Advisors bought a new stake in shares of LyondellBasell Industries in the 4th quarter valued at about $27,000. Gold Investment Management Ltd. acquired a new stake in LyondellBasell Industries during the 4th quarter valued at $28,000. Finally, Blue Trust Inc. grew its position in shares of LyondellBasell Industries by 311.0% in the second 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. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group reduced their price objective 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. Deutsche Bank Aktiengesellschaft upped 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. Wells Fargo & Company lowered their price target 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. Finally, JPMorgan Chase & Co. dropped their target price 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.27.

LyondellBasell Industries Stock Down 2.1 %

Shares of NYSE LYB opened at $94.04 on Friday. The company’s fifty day simple moving average is $96.23 and its 200 day simple moving average is $98.02. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The firm 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. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate 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 period in the prior year, the business earned $2.44 EPS. As a group, sell-side analysts forecast that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

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