Los Angeles Capital Management LLC Buys New Position in LyondellBasell Industries (NYSE:LYB)

Los Angeles Capital Management LLC purchased a new position in shares of LyondellBasell Industries (NYSE:LYB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 61,497 shares of the specialty chemicals company’s stock, valued at approximately $5,883,000.

Other institutional investors also recently made changes to their positions in the company. Norden Group LLC acquired a new position in LyondellBasell Industries during the first quarter worth about $3,686,000. Sound Income Strategies LLC raised its holdings in shares of LyondellBasell Industries by 9.3% in the 1st quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after purchasing an additional 18,901 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of LyondellBasell Industries by 8.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares in the last quarter. Brevan Howard Capital Management LP lifted its stake in LyondellBasell Industries by 772.9% during the fourth quarter. Brevan Howard Capital Management LP now owns 20,914 shares of the specialty chemicals company’s stock valued at $1,989,000 after purchasing an additional 18,518 shares during the last quarter. Finally, Banco Santander S.A. bought a new stake in LyondellBasell Industries during the first quarter worth approximately $3,607,000. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

LyondellBasell Industries Trading Up 1.4 %

NYSE LYB opened at $94.77 on Tuesday. The company has a market capitalization of $30.86 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The firm’s fifty day simple moving average is $96.25 and its 200-day simple moving average is $98.34.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business earned $2.44 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 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.