Chicago Partners Investment Group LLC boosted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB – Free Report) by 46.8% in the third quarter, HoldingsChannel reports. The firm owned 28,332 shares of the specialty chemicals company’s stock after purchasing an additional 9,037 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in LyondellBasell Industries were worth $1,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Fortitude Family Office LLC increased its position in LyondellBasell Industries by 221.0% in the third quarter. Fortitude Family Office LLC now owns 504 shares of the specialty chemicals company’s stock worth $29,000 after buying an additional 347 shares during the period. Kelleher Financial Advisors lifted its stake in LyondellBasell Industries by 4,112.5% in the second quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company’s stock valued at $35,000 after buying an additional 658 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of LyondellBasell Industries during the first quarter valued at $73,000. Versant Capital Management Inc boosted its holdings in shares of LyondellBasell Industries by 148.8% during the second quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company’s stock valued at $50,000 after acquiring an additional 570 shares during the period. Finally, Pinnacle Bancorp Inc. increased its holdings in shares of LyondellBasell Industries by 26.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company’s stock worth $55,000 after acquiring an additional 199 shares during the period. 71.20% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently weighed in on LYB. Royal Bank Of Canada lifted their price objective on shares of LyondellBasell Industries from $68.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. KeyCorp started coverage on shares of LyondellBasell Industries in a research report on Thursday, September 10th. They issued a “sector weight” rating for the company. Morgan Stanley decreased their target price on shares of LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a research report on Monday, July 20th. The Goldman Sachs Group restated a “sell” rating and issued a $69.00 price target on shares of LyondellBasell Industries in a research note on Monday, November 2nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $72.00 price target on shares of LyondellBasell Industries in a report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $73.22.
LyondellBasell Industries Trading Down 1.3%
NYSE:LYB opened at $60.82 on Friday. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.16 and a beta of 0.29. The business has a fifty day moving average of $62.69 and a 200-day moving average of $63.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.18 and a current ratio of 1.78.
LyondellBasell Industries (NYSE:LYB – Get Free Report) last issued its quarterly earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing analysts’ consensus estimates of $2.57 by ($0.03). LyondellBasell Industries had a net margin of 4.06% and a return on equity of 21.94%. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. During the same period last year, the business posted $1.01 earnings per share. LyondellBasell Industries’s revenue for the quarter was up 10.0% on a year-over-year basis. Equities analysts predict that LyondellBasell Industries N.V. will post 9.08 earnings per share for the current year.
LyondellBasell Industries Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s dividend payout ratio is currently 69.70%.
LyondellBasell Industries Profile
LyondellBasell Industries (NYSE: LYB) is a global chemicals and plastics company that makes materials and products used by manufacturers in a range of industries. Its businesses span the production of olefins, such as ethylene and propylene, and polyolefins, including polyethylene and polypropylene.
The company also produces intermediates and derivatives, develops advanced polymer compounds, and provides chemical-process technology and related services. Its products are used in applications including packaging, transportation, construction, consumer goods and healthcare.
Formed in 2007 through the merger of Lyondell Chemical Company and Basell, LyondellBasell serves customers around the world through manufacturing and commercial operations across multiple regions.
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