Sumitomo Mitsui DS Asset Management Company Ltd Buys 1,211 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 2.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,675 shares of the specialty chemicals company’s stock after acquiring an additional 1,211 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in LyondellBasell Industries were worth $3,708,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JFS Wealth Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 310 shares in the last quarter. Lazard Asset Management LLC lifted its stake in LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 214 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $37,000. Covestor Ltd lifted its stake in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 284 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of LyondellBasell Industries by 127.9% in the first quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock worth $61,000 after purchasing an additional 486 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup cut their price objective on shares of LyondellBasell Industries from $58.00 to $56.00 in a research report on Wednesday, June 11th. BMO Capital Markets cut their price target on shares of LyondellBasell Industries from $65.00 to $60.00 in a research report on Friday, June 27th. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, April 4th. The Goldman Sachs Group dropped their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, April 28th. Finally, Argus cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $68.31.

LyondellBasell Industries Stock Down 0.9%

LYB opened at $62.00 on Friday. LyondellBasell Industries N.V. has a 1-year low of $51.11 and a 1-year high of $100.46. The stock’s fifty day simple moving average is $58.27 and its 200 day simple moving average is $67.00. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The stock has a market cap of $19.93 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. LyondellBasell Industries’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share. As a group, research analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a dividend of $1.37 per share. The ex-dividend date was Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.84%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s dividend payout ratio (DPR) is 169.14%.

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.