Wedge Capital Management L L P NC Lowers Stock Position in LyondellBasell Industries (NYSE:LYB)

Wedge Capital Management L L P NC trimmed its position in LyondellBasell Industries (NYSE:LYBGet Rating) by 17.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,973 shares of the specialty chemicals company’s stock after selling 12,886 shares during the quarter. Wedge Capital Management L L P NC’s holdings in LyondellBasell Industries were worth $5,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. CVA Family Office LLC boosted its position in shares of LyondellBasell Industries by 133.1% in the second quarter. CVA Family Office LLC now owns 648 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 370 shares during the period. Sound Income Strategies LLC increased its stake in LyondellBasell Industries by 10.1% in the 2nd quarter. Sound Income Strategies LLC now owns 119,468 shares of the specialty chemicals company’s stock worth $10,449,000 after buying an additional 10,943 shares in the last quarter. Windward Capital Management Co. CA raised its holdings in LyondellBasell Industries by 0.6% during the second quarter. Windward Capital Management Co. CA now owns 22,899 shares of the specialty chemicals company’s stock valued at $2,003,000 after acquiring an additional 140 shares during the period. State of Alaska Department of Revenue lifted its position in shares of LyondellBasell Industries by 58.9% in the second quarter. State of Alaska Department of Revenue now owns 58,757 shares of the specialty chemicals company’s stock valued at $5,137,000 after acquiring an additional 21,780 shares in the last quarter. Finally, Stonnington Group LLC bought a new position in shares of LyondellBasell Industries in the second quarter worth about $399,000. Institutional investors own 70.07% of the company’s stock.

LyondellBasell Industries Stock Down 0.9 %

Shares of LYB opened at $77.36 on Wednesday. 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 business has a fifty day moving average of $85.87 and a 200 day moving average of $96.67. The company has a market cap of $25.24 billion, a PE ratio of 4.71, a P/E/G ratio of 0.62 and a beta of 1.27. 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. On average, sell-side analysts expect that LyondellBasell Industries will post 15.65 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were paid a dividend of $1.19 per share. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Friday, August 26th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.15%. LyondellBasell Industries’s dividend payout ratio is currently 29.01%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Piper Sandler decreased their target price on LyondellBasell Industries from $115.00 to $98.00 in a research note on Monday, July 25th. Alembic Global Advisors cut shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $120.00 to $115.00 in a research report on Tuesday, May 31st. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $115.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, September 13th. Royal Bank of Canada reduced their price target on shares of LyondellBasell Industries from $99.00 to $97.00 and set a “sector perform” rating on the stock in a report on Tuesday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $115.00 to $80.00 in a report on Friday, September 2nd. Three investment 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. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $101.45.

LyondellBasell Industries Company Profile

(Get Rating)

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

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries (NYSE:LYBGet Rating).

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

Receive News & Ratings for LyondellBasell Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LyondellBasell Industries and related companies with MarketBeat.com's FREE daily email newsletter.