Verity Asset Management Inc. Purchases New Shares in LyondellBasell Industries (NYSE:LYB)

Verity Asset Management Inc. purchased a new stake in shares of LyondellBasell Industries (NYSE:LYBGet 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 (NYSE:LYBGet Rating) last posted its quarterly earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. The company had revenue of $14.84 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same period in the prior year, the business posted $6.13 EPS. The firm’s revenue was up 28.3% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries will post 16.34 earnings per share for the current year.

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

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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.

See Also

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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