Verity Asset Management Inc. purchased a new stake in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,909 shares of the specialty chemicals company’s stock, valued at approximately $145,000.
A number of other large investors also recently made changes to their positions in the company. Core Wealth Advisors Inc. bought a new stake in LyondellBasell Industries in the fourth quarter worth about $28,000. Covestor Ltd bought a new stake in LyondellBasell Industries in the fourth quarter worth about $31,000. KRS Capital Management LLC bought a new stake in LyondellBasell Industries in the fourth quarter worth about $35,000. Monetary Management Group Inc. raised its position in LyondellBasell Industries by 60.0% in the fourth quarter. Monetary Management Group Inc. now owns 400 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 150 shares during the period. Finally, US Asset Management LLC bought a new stake in LyondellBasell Industries in the first quarter worth about $40,000. 70.07% of the stock is owned by institutional investors.
LyondellBasell Industries Trading Down 0.4 %
NYSE:LYB opened at $78.69 on Friday. The company has a fifty day moving average of $86.45 and a 200 day moving average of $97.08. LyondellBasell Industries has a 52 week low of $78.08 and a 52 week high of $117.22. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $25.67 billion, a P/E ratio of 4.82, a P/E/G ratio of 0.62 and a beta of 1.27.
LyondellBasell Industries Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 29th were issued a $1.19 dividend. The ex-dividend date was Friday, August 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 6.05%. LyondellBasell Industries’s dividend payout ratio is 29.01%.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of LyondellBasell Industries from $99.00 to $97.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 2nd. UBS Group reduced their target price on shares of LyondellBasell Industries from $108.00 to $93.00 and set a “neutral” rating for the company in a research note on Wednesday, July 13th. Credit Suisse Group assumed coverage on shares of LyondellBasell Industries in a research note on Monday, June 27th. They issued an “underperform” rating and a $70.00 target price for the company. Mizuho reduced their target price on shares of LyondellBasell Industries from $132.00 to $113.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Finally, Vertical Research downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a research note on Monday, August 1st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $101.95.
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.
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