LyondellBasell Industries (NYSE:LYB) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in LyondellBasell Industries (NYSE:LYB) by 23.7% during the first quarter, Holdings Channel.com reports. The firm owned 26,111 shares of the specialty chemicals company’s stock after selling 8,106 shares during the period. Allspring Global Investments Holdings LLC’s holdings in LyondellBasell Industries were worth $2,671,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of LYB. McIlrath & Eck LLC boosted its position in LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 141 shares during the last quarter. Heritage Wealth Advisors purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth $27,000. Gold Investment Management Ltd. purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth $28,000. Venturi Wealth Management LLC boosted its holdings in shares of LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 242 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new position in LyondellBasell Industries in the fourth quarter valued at $37,000. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Wells Fargo & Company boosted their target price on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Mizuho upped their price target 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. Citigroup lifted their price target on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Finally, Barclays upped their price objective on LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $105.08.

LyondellBasell Industries Stock Up 0.3 %

Shares of NYSE LYB opened at $94.93 on Wednesday. The stock has a fifty day moving average price of $98.03 and a 200 day moving average price of $98.03. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a 12-month low of $87.91 and a 12-month high of $107.02. The company has a market cap of $30.91 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.18 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. The business had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. Research analysts anticipate 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. Stockholders of record on Monday, June 3rd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.65%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 82.84%.

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.