LyondellBasell Industries (NYSE:LYB) Shares Sold by Kiltearn Partners LLP

Kiltearn Partners LLP reduced its position in shares of LyondellBasell Industries (NYSE:LYB) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 401,000 shares of the specialty chemicals company’s stock after selling 87,900 shares during the period. LyondellBasell Industries accounts for about 4.7% of Kiltearn Partners LLP’s investment portfolio, making the stock its 8th largest position. Kiltearn Partners LLP owned about 0.12% of LyondellBasell Industries worth $38,360,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital World Investors acquired a new position in LyondellBasell Industries in the fourth quarter valued at $197,305,000. Ilex Capital Partners UK LLP acquired a new stake in LyondellBasell Industries in the 1st quarter worth about $61,327,000. Pacer Advisors Inc. grew its holdings in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares during the period. Allianz Asset Management GmbH increased its stake in shares of LyondellBasell Industries by 826.1% during the 4th quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock valued at $38,911,000 after acquiring an additional 365,050 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after acquiring an additional 347,877 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $93.60 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02. The stock’s 50 day moving average price is $96.19 and its 200 day moving average price is $97.94. The firm has a market capitalization of $30.48 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share 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 period in the prior year, the firm earned $2.44 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that LyondellBasell Industries will post 8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid 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 dividend payout ratio is presently 82.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered 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 note on Friday, September 13th. Wells Fargo & Company cut their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft boosted their price target on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Finally, UBS Group dropped their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average 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.