LyondellBasell Industries (NYSE:LYB) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its stake in shares of LyondellBasell Industries (NYSE:LYB) by 24.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,334 shares of the specialty chemicals company’s stock after selling 18,736 shares during the quarter. Mackenzie Financial Corp’s holdings in LyondellBasell Industries were worth $5,485,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYB. Capital World Investors acquired a new position in LyondellBasell Industries during the 4th quarter valued at approximately $197,305,000. Ilex Capital Partners UK LLP acquired a new position in LyondellBasell Industries during the 1st quarter valued at approximately $61,327,000. Pacer Advisors Inc. boosted its position in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares during the period. Ensign Peak Advisors Inc boosted its position in 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. Finally, Vanguard Group Inc. boosted its position in LyondellBasell Industries by 0.9% during 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 period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group reduced their price target 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. JPMorgan Chase & Co. reduced their price target 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. Finally, Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.27.

LyondellBasell Industries Stock Down 0.1 %

Shares of LyondellBasell Industries stock opened at $95.82 on Wednesday. The stock’s fifty day moving average is $95.99 and its 200-day moving average is $97.76. The firm has a market capitalization of $31.20 billion, a PE ratio of 14.81, a price-to-earnings-growth 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 has a 12-month low of $88.46 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.44 earnings per share. Equities analysts anticipate that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

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

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.