Inspire Investing LLC Trims Stake in LyondellBasell Industries (NYSE:LYB)

Inspire Investing LLC lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 30.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,734 shares of the specialty chemicals company’s stock after selling 1,649 shares during the quarter. Inspire Investing LLC’s holdings in LyondellBasell Industries were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LYB. Heritage Wealth Advisors purchased a new stake in LyondellBasell Industries during the 4th quarter worth about $27,000. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries in the first quarter valued at approximately $27,000. Gold Investment Management Ltd. purchased a new position in shares of LyondellBasell Industries during the fourth quarter valued at approximately $28,000. Beacon Capital Management LLC acquired a new stake in LyondellBasell Industries during the first quarter worth approximately $28,000. Finally, Blue Trust Inc. grew its stake in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 2.1 %

Shares of LYB opened at $94.04 on Friday. LyondellBasell Industries has a 12 month low of $88.46 and a 12 month high of $107.02. The stock’s 50-day moving average is $96.23 and its two-hundred day moving average is $98.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. The stock 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.

LyondellBasell Industries (NYSE:LYB) last released 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. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the prior year, the business earned $2.44 EPS. LyondellBasell Industries’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts forecast that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 5.70%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LYB. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their target price 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 dropped 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $107.27.

About LyondellBasell Industries

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.