Retirement Systems of Alabama Raises Stock Position in LyondellBasell Industries (NYSE:LYB)

Retirement Systems of Alabama grew its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,744 shares of the specialty chemicals company’s stock after buying an additional 249 shares during the quarter. Retirement Systems of Alabama’s holdings in LyondellBasell Industries were worth $5,428,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. McIlrath & Eck LLC raised its position in LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 141 shares during the period. Heritage Wealth Advisors purchased a new stake in LyondellBasell Industries during the 4th quarter valued at $27,000. Chilton Capital Management LLC bought a new stake in LyondellBasell Industries in the first quarter worth $27,000. Gold Investment Management Ltd. purchased a new position in LyondellBasell Industries during the fourth quarter worth $28,000. Finally, Beacon Capital Management LLC bought a new position in LyondellBasell Industries during the first quarter valued at $28,000. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LYB shares. Mizuho lifted their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Royal Bank of Canada upped their target price on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. UBS Group cut their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Wells Fargo & Company decreased their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $107.55.

LyondellBasell Industries Stock Up 0.9 %

Shares of LyondellBasell Industries stock opened at $97.87 on Tuesday. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The stock has a market cap of $31.87 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.21 and a beta of 1.09. The firm’s 50-day moving average is $96.08 and its two-hundred day moving average is $98.36.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $2.44 earnings per share. As a group, research analysts expect that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.48%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

LyondellBasell Industries Profile

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.