Norden Group LLC Purchases Shares of 36,032 LyondellBasell Industries (NYSE:LYB)

Norden Group LLC acquired a new position in LyondellBasell Industries (NYSE:LYB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 36,032 shares of the specialty chemicals company’s stock, valued at approximately $3,686,000.

Other large investors also recently modified their holdings of the company. Axxcess Wealth Management LLC purchased a new stake in shares of LyondellBasell Industries during the third quarter valued at approximately $256,000. Adage Capital Partners GP L.L.C. increased its position in shares of LyondellBasell Industries by 0.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 254,600 shares of the specialty chemicals company’s stock valued at $24,111,000 after purchasing an additional 1,800 shares during the last quarter. Evergreen Capital Management LLC raised its stake in shares of LyondellBasell Industries by 6.0% during the 3rd quarter. Evergreen Capital Management LLC now owns 3,417 shares of the specialty chemicals company’s stock worth $324,000 after purchasing an additional 193 shares during the period. Lido Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 2.4% in the 3rd quarter. Lido Advisors LLC now owns 24,656 shares of the specialty chemicals company’s stock worth $2,335,000 after buying an additional 573 shares during the last quarter. Finally, Scotia Capital Inc. bought a new position in LyondellBasell Industries during the third quarter valued at about $521,000. Institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LYB shares. Barclays boosted their target price on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. BMO Capital Markets upped their price objective on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. Wells Fargo & Company raised their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. JPMorgan Chase & Co. boosted their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Finally, Royal Bank of Canada increased their price target on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. One 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $105.08.

LyondellBasell Industries Trading Up 0.2 %

Shares of LyondellBasell Industries stock opened at $95.10 on Thursday. The company’s 50-day moving average price is $97.91 and its 200-day moving average price is $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 $30.97 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.17 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 for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same quarter in the prior year, the firm posted $2.50 EPS. LyondellBasell Industries’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were paid a dividend of $1.34 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.36 annualized dividend and a yield of 5.64%. 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.