State of Alaska Department of Revenue Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

State of Alaska Department of Revenue increased its stake in shares of LyondellBasell Industries (NYSE:LYBGet Rating) by 58.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,757 shares of the specialty chemicals company’s stock after purchasing an additional 21,780 shares during the period. State of Alaska Department of Revenue’s holdings in LyondellBasell Industries were worth $5,137,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. WealthBridge Investment Counsel Inc. increased its holdings in LyondellBasell Industries by 0.4% during the first quarter. WealthBridge Investment Counsel Inc. now owns 25,930 shares of the specialty chemicals company’s stock valued at $2,666,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in LyondellBasell Industries by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the specialty chemicals company’s stock valued at $1,845,000 after buying an additional 100 shares during the last quarter. SPC Financial Inc. increased its holdings in LyondellBasell Industries by 2.1% during the first quarter. SPC Financial Inc. now owns 4,800 shares of the specialty chemicals company’s stock valued at $494,000 after buying an additional 100 shares during the last quarter. City State Bank increased its holdings in LyondellBasell Industries by 6.2% during the first quarter. City State Bank now owns 1,705 shares of the specialty chemicals company’s stock valued at $175,000 after buying an additional 100 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in LyondellBasell Industries by 1.0% during the first quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock valued at $1,112,000 after buying an additional 107 shares during the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on LYB shares. Alembic Global Advisors cut shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $120.00 to $115.00 in a report on Tuesday, May 31st. Credit Suisse Group began coverage on shares of LyondellBasell Industries in a research note on Monday, June 27th. They issued an “underperform” rating and a $70.00 price objective for the company. Vertical Research cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $96.00 price objective for the company. in a research note on Monday, August 1st. Morgan Stanley reduced their price objective on shares of LyondellBasell Industries from $127.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, August 2nd. Finally, Bank of America reduced their price objective on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 14th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $101.45.

LyondellBasell Industries Price Performance

LYB stock opened at $77.36 on Wednesday. The company has a fifty day simple moving average of $85.87 and a two-hundred day simple moving average of $96.67. The firm has a market capitalization of $25.24 billion, a P/E ratio of 4.76, a price-to-earnings-growth ratio of 0.61 and a beta of 1.27. The company has a quick ratio of 1.01, a current ratio of 1.68 and a debt-to-equity ratio of 0.90. LyondellBasell Industries has a 52 week low of $75.65 and a 52 week high of $117.22.

LyondellBasell Industries (NYSE:LYBGet Rating) last released its earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.91 by $0.28. The firm had revenue of $14.84 billion during the quarter, compared to analyst estimates of $13.70 billion. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. The business’s revenue was up 28.3% on a year-over-year basis. During the same quarter last year, the business earned $6.13 EPS. Analysts anticipate that LyondellBasell Industries will post 15.9 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were issued a $1.19 dividend. This represents a $4.76 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend was Friday, August 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.13. LyondellBasell Industries’s dividend payout ratio (DPR) is 29.01%.

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.

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

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