Sunbelt Securities Inc. Increases Stock Position in LyondellBasell Industries (NYSE:LYB)

Sunbelt Securities Inc. boosted its stake in LyondellBasell Industries (NYSE:LYB) by 22.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,290 shares of the specialty chemicals company’s stock after purchasing an additional 1,909 shares during the quarter. Sunbelt Securities Inc.’s holdings in LyondellBasell Industries were worth $984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of LYB. Capital World Investors purchased a new stake in LyondellBasell Industries in the fourth quarter valued at approximately $197,305,000. Ilex Capital Partners UK LLP purchased a new stake in LyondellBasell Industries in the first quarter valued at approximately $61,327,000. Pacer Advisors Inc. grew its position in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of LyondellBasell Industries by 80.7% during the second 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 in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after acquiring an additional 290,401 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $95.90 on Tuesday. The business has a 50 day moving average of $96.00 and a 200 day moving average of $97.79. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02. The company has a market cap of $31.23 billion, a PE ratio of 14.82, a P/E/G ratio of 1.29 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 earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping 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 firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period last year, the company posted $2.44 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 5.59%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Wall Street Analysts Forecast Growth

LYB has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. JPMorgan Chase & Co. reduced their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, UBS Group lowered their price objective on 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 given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $107.27.

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.