LyondellBasell Industries (NYSE:LYB) Shares Bought by Rockland Trust Co.

Rockland Trust Co. lifted its position in shares of LyondellBasell Industries (NYSE:LYB) by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,148 shares of the specialty chemicals company’s stock after purchasing an additional 1,456 shares during the period. Rockland Trust Co.’s holdings in LyondellBasell Industries were worth $1,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of 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 purchasing an additional 214 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in LyondellBasell Industries in the fourth quarter valued at $37,000. Covestor Ltd raised its holdings in LyondellBasell Industries by 107.6% in the fourth 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. Versant Capital Management Inc boosted its stake in LyondellBasell Industries by 127.9% during the 1st quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 486 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in LyondellBasell Industries by 223.3% during the 1st quarter. UMB Bank n.a. now owns 928 shares of the specialty chemicals company’s stock worth $65,000 after acquiring an additional 641 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYB. Piper Sandler cut their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada cut their price objective on LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. UBS Group reiterated a “sell” rating and issued a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Citigroup dropped their price target on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Fermium Researc raised shares of LyondellBasell Industries to a “strong-buy” rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $69.75.

LyondellBasell Industries Trading Down 0.1%

Shares of NYSE:LYB opened at $60.06 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $57.65 and its 200 day moving average price is $68.87. The company has a market cap of $19.30 billion, a PE ratio of 14.51, a P/E/G ratio of 0.97 and a beta of 0.82. LyondellBasell Industries has a fifty-two week low of $51.11 and a fifty-two week high of $100.46.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business had revenue of $7.68 billion for the quarter, compared to the consensus estimate of $7.69 billion. During the same period last year, the firm posted $1.53 EPS. The business’s quarterly revenue was down 7.6% on a year-over-year basis. Sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a $1.37 dividend. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a dividend yield of 9.12%. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries’s dividend payout ratio is currently 169.14%.

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.