LyondellBasell Industries (NYSE:LYB) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. cut its position in LyondellBasell Industries (NYSE:LYB) by 8.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,122 shares of the specialty chemicals company’s stock after selling 685 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in LyondellBasell Industries were worth $728,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LYB. PGGM Investments increased its holdings in LyondellBasell Industries by 6.9% in the 4th quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock worth $1,299,000 after buying an additional 879 shares during the period. International Assets Investment Management LLC purchased a new position in shares of LyondellBasell Industries during the fourth quarter worth $14,000,000. Arvest Investments Inc. acquired a new position in LyondellBasell Industries during the fourth quarter valued at $2,001,000. Oak Thistle LLC acquired a new position in LyondellBasell Industries during the fourth quarter valued at $1,426,000. Finally, Russell Investments Group Ltd. grew its position in LyondellBasell Industries by 25.1% during the 4th quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after purchasing an additional 46,871 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Down 1.1 %

Shares of NYSE LYB opened at $94.64 on Tuesday. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. The company has a 50-day moving average of $98.15 and a 200 day moving average of $98.03. LyondellBasell Industries has a 12-month low of $87.91 and a 12-month high of $107.02. The stock has a market cap of $30.82 billion, a PE ratio of 14.63, a P/E/G ratio of 1.18 and a beta of 1.13.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 EPS 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 the consensus estimate of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 earnings per share. As a group, sell-side analysts predict that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on LYB shares. BMO Capital Markets upped their target price on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. Barclays raised their price target on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Mizuho upped their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Wells Fargo & Company raised their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price 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.