FDx Advisors Inc. Acquires New Holdings in LyondellBasell Industries (NYSE:LYB)

FDx Advisors Inc. acquired a new stake in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,191 shares of the specialty chemicals company’s stock, valued at approximately $265,000.

Other institutional investors also recently added to or reduced their stakes in the company. abrdn plc raised its stake in LyondellBasell Industries by 15.2% in the fourth quarter. abrdn plc now owns 91,438 shares of the specialty chemicals company’s stock valued at $7,592,000 after buying an additional 12,088 shares during the last quarter. Westbourne Investment Advisors Inc. raised its stake in LyondellBasell Industries by 4.6% in the fourth quarter. Westbourne Investment Advisors Inc. now owns 47,734 shares of the specialty chemicals company’s stock valued at $3,963,000 after buying an additional 2,086 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in LyondellBasell Industries in the fourth quarter valued at about $714,000. Intech Investment Management LLC raised its stake in LyondellBasell Industries by 132.0% in the fourth quarter. Intech Investment Management LLC now owns 148,863 shares of the specialty chemicals company’s stock valued at $12,360,000 after buying an additional 84,685 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC raised its stake in LyondellBasell Industries by 149.8% in the fourth quarter. Longfellow Investment Management Co. LLC now owns 5,373 shares of the specialty chemicals company’s stock valued at $446,000 after buying an additional 3,222 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.

LyondellBasell Industries Stock Down 1.3 %

Shares of LYB opened at $89.55 on Thursday. The company has a current ratio of 1.85, a quick ratio of 1.05 and a debt-to-equity ratio of 0.83. LyondellBasell Industries has a 12 month low of $71.46 and a 12 month high of $117.22. The stock’s 50 day moving average is $91.67 and its two-hundred day moving average is $90.26. The firm has a market cap of $29.13 billion, a P/E ratio of 9.69, a PEG ratio of 1.17 and a beta of 1.21.

LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings results on Friday, April 28th. The specialty chemicals company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.80 by $0.70. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.80 billion. LyondellBasell Industries had a return on equity of 28.95% and a net margin of 6.40%. The business’s revenue was down 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $4.00 earnings per share. Analysts predict that LyondellBasell Industries will post 9.72 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 30th will be paid a $1.25 dividend. The ex-dividend date is Friday, May 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.19. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.58%. LyondellBasell Industries’s payout ratio is currently 51.52%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Mizuho increased their price target on LyondellBasell Industries from $89.00 to $91.00 and gave the company a “neutral” rating in a research note on Monday, February 6th. Deutsche Bank Aktiengesellschaft raised their price objective on LyondellBasell Industries from $100.00 to $110.00 in a research note on Monday, May 1st. Jefferies Financial Group cut LyondellBasell Industries from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $113.00 to $90.00 in a research note on Thursday, April 13th. Barclays raised their price objective on LyondellBasell Industries from $98.00 to $100.00 in a research note on Monday, May 1st. Finally, KeyCorp raised their price objective on LyondellBasell Industries from $74.00 to $84.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 11th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $99.37.

LyondellBasell Industries Company Profile

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.