Bank of America Corp DE lowered its position in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 0.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,540,478 shares of the specialty chemicals company’s stock after selling 5,985 shares during the period. Bank of America Corp DE owned about 0.47% of LyondellBasell Industries worth $158,392,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its holdings in shares of LyondellBasell Industries by 6.5% during the fourth quarter. Invesco Ltd. now owns 1,954,848 shares of the specialty chemicals company’s stock worth $180,296,000 after buying an additional 118,910 shares during the last quarter. Schroder Investment Management Group boosted its holdings in LyondellBasell Industries by 29.1% in the 4th quarter. Schroder Investment Management Group now owns 300,369 shares of the specialty chemicals company’s stock valued at $27,703,000 after purchasing an additional 67,734 shares in the last quarter. Mutual Advisors LLC boosted its holdings in LyondellBasell Industries by 14.8% in the 4th quarter. Mutual Advisors LLC now owns 10,097 shares of the specialty chemicals company’s stock valued at $931,000 after purchasing an additional 1,299 shares in the last quarter. Blair William & Co. IL boosted its holdings in LyondellBasell Industries by 4.0% in the 4th quarter. Blair William & Co. IL now owns 10,705 shares of the specialty chemicals company’s stock valued at $987,000 after purchasing an additional 412 shares in the last quarter. Finally, State Street Corp boosted its holdings in LyondellBasell Industries by 1.7% in the 4th quarter. State Street Corp now owns 11,974,111 shares of the specialty chemicals company’s stock valued at $1,104,372,000 after purchasing an additional 203,559 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the company. Bank of America lowered their price objective on LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating on the stock in a report on Tuesday, June 14th. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, September 13th. Piper Sandler decreased their price target on LyondellBasell Industries from $115.00 to $98.00 in a research note on Monday, July 25th. Credit Suisse Group assumed coverage on LyondellBasell Industries in a research note on Monday, June 27th. They set an “underperform” rating and a $70.00 price target on the stock. Finally, UBS Group decreased their price target on LyondellBasell Industries from $96.00 to $83.00 and set a “neutral” rating on the stock in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $101.45.
LyondellBasell Industries Trading Down 0.8 %
LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share for the quarter, beating the consensus estimate of $4.97 by $0.22. The company had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $13.70 billion. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. LyondellBasell Industries’s revenue was up 28.3% on a year-over-year basis. During the same period in the previous year, the firm posted $6.13 EPS. As a group, analysts forecast that LyondellBasell Industries will post 15.65 EPS for the current year.
LyondellBasell Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.34%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.13. The ex-dividend date was Friday, August 26th. LyondellBasell Industries’s dividend payout ratio is presently 29.01%.
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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