Van ECK Associates Corp Grows Position in LyondellBasell Industries (NYSE:LYB)

Van ECK Associates Corp boosted its stake in shares of LyondellBasell Industries (NYSE:LYB) by 11.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 52,352 shares of the specialty chemicals company’s stock after buying an additional 5,490 shares during the quarter. Van ECK Associates Corp’s holdings in LyondellBasell Industries were worth $5,008,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of LYB. Fisher Asset Management LLC purchased a new position in LyondellBasell Industries during the fourth quarter valued at $229,000. Merit Financial Group LLC raised its holdings in LyondellBasell Industries by 28.1% during the fourth quarter. Merit Financial Group LLC now owns 4,913 shares of the specialty chemicals company’s stock valued at $467,000 after acquiring an additional 1,078 shares during the period. Metis Global Partners LLC raised its holdings in LyondellBasell Industries by 0.9% during the fourth quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock valued at $1,261,000 after acquiring an additional 115 shares during the period. Summit Trail Advisors LLC raised its holdings in LyondellBasell Industries by 14.5% during the fourth quarter. Summit Trail Advisors LLC now owns 4,473 shares of the specialty chemicals company’s stock valued at $425,000 after acquiring an additional 568 shares during the period. Finally, Private Advisor Group LLC raised its holdings in LyondellBasell Industries by 7.9% during the fourth quarter. Private Advisor Group LLC now owns 10,460 shares of the specialty chemicals company’s stock valued at $995,000 after acquiring an additional 765 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Down 3.0 %

Shares of NYSE LYB opened at $95.72 on Wednesday. The business’s 50 day moving average is $96.34 and its two-hundred day moving average is $98.43. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The stock has a market capitalization of $31.12 billion, a P/E ratio of 14.79, a PEG ratio of 1.33 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts expect that LyondellBasell Industries will post 8.11 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.60%. LyondellBasell Industries’s payout ratio is currently 82.84%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their price target on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. UBS Group decreased their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company reduced their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.55.

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.