Hexagon Capital Partners LLC Sells 224 Shares of LyondellBasell Industries (NYSE:LYB)

Hexagon Capital Partners LLC cut its position in shares of LyondellBasell Industries (NYSE:LYB) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,543 shares of the specialty chemicals company’s stock after selling 224 shares during the period. Hexagon Capital Partners LLC’s holdings in LyondellBasell Industries were worth $362,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Aviance Capital Partners LLC lifted its stake in LyondellBasell Industries by 1.4% in the first quarter. Aviance Capital Partners LLC now owns 13,126 shares of the specialty chemicals company’s stock worth $1,343,000 after acquiring an additional 179 shares during the period. LVW Advisors LLC boosted its stake in shares of LyondellBasell Industries by 60.4% during the first quarter. LVW Advisors LLC now owns 7,667 shares of the specialty chemicals company’s stock valued at $784,000 after purchasing an additional 2,888 shares in the last quarter. Founders Financial Securities LLC purchased a new position in LyondellBasell Industries during the first quarter valued at approximately $371,000. First Bank & Trust raised its stake in LyondellBasell Industries by 2.1% in the first quarter. First Bank & Trust now owns 39,043 shares of the specialty chemicals company’s stock worth $3,993,000 after buying an additional 811 shares in the last quarter. Finally, Norwood Financial Corp lifted its holdings in LyondellBasell Industries by 12.6% during the first quarter. Norwood Financial Corp now owns 2,675 shares of the specialty chemicals company’s stock worth $274,000 after buying an additional 300 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $94.64 on Tuesday. LyondellBasell Industries has a 52 week low of $87.91 and a 52 week high of $107.02. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The firm has a market cap of $30.82 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.18 and a beta of 1.09. The business’s 50 day moving average price is $98.15 and its 200 day moving average price is $98.03.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.50 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 5.66%. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is 82.84%.

Analyst Ratings Changes

Several research firms have recently commented on LYB. Wells Fargo & Company boosted their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. BMO Capital Markets increased their price target on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, April 30th. Barclays lifted their price objective on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. increased their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, 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 report on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.08.

LyondellBasell Industries Company 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.