Lake Street Private Wealth LLC Makes New Investment in LyondellBasell Industries (NYSE:LYB)

Lake Street Private Wealth LLC acquired a new position in shares of LyondellBasell Industries (NYSE:LYB) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 2,556 shares of the specialty chemicals company’s stock, valued at approximately $261,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYB. Denali Advisors LLC boosted its position in shares of LyondellBasell Industries by 2.5% in the first quarter. Denali Advisors LLC now owns 8,341 shares of the specialty chemicals company’s stock valued at $853,000 after acquiring an additional 203 shares during the period. Aviance Capital Partners LLC boosted its position in shares of 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 valued at $1,343,000 after acquiring an additional 179 shares during the period. LVW Advisors LLC boosted its position in shares of LyondellBasell Industries by 60.4% in the first quarter. LVW Advisors LLC now owns 7,667 shares of the specialty chemicals company’s stock valued at $784,000 after acquiring an additional 2,888 shares during the period. Founders Financial Securities LLC bought a new stake in shares of LyondellBasell Industries in the first quarter valued at about $371,000. Finally, First Bank & Trust boosted its position in shares of LyondellBasell Industries by 2.1% in the first quarter. First Bank & Trust now owns 39,043 shares of the specialty chemicals company’s stock valued at $3,993,000 after acquiring an additional 811 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Up 0.3 %

Shares of NYSE LYB opened at $95.17 on Friday. LyondellBasell Industries has a 12 month low of $87.91 and a 12 month high of $107.02. 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 firm has a market capitalization of $30.99 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.18 and a beta of 1.09. The business has a 50-day moving average of $97.80 and a 200-day moving average of $98.01.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. LyondellBasell Industries’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. Sell-side 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 announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.63%. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase 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

Several research firms recently weighed in on LYB. 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. BMO Capital Markets upped their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada boosted their target price 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 assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $105.08.

About LyondellBasell Industries

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.