Sienna Gestion Grows Stake in LyondellBasell Industries (NYSE:LYB)

Sienna Gestion grew its stake in LyondellBasell Industries (NYSE:LYB) by 12.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,287 shares of the specialty chemicals company’s stock after purchasing an additional 478 shares during the period. Sienna Gestion’s holdings in LyondellBasell Industries were worth $410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Norden Group LLC purchased a new position in LyondellBasell Industries during the first quarter worth $3,686,000. Sound Income Strategies LLC boosted its stake in shares of LyondellBasell Industries by 9.3% during the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock valued at $22,679,000 after purchasing an additional 18,901 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in shares of LyondellBasell Industries by 8.4% in the first 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 during the last quarter. Brevan Howard Capital Management LP increased its stake in LyondellBasell Industries by 772.9% in the 4th quarter. Brevan Howard Capital Management LP now owns 20,914 shares of the specialty chemicals company’s stock worth $1,989,000 after buying an additional 18,518 shares during the period. Finally, Banco Santander S.A. bought a new stake in LyondellBasell Industries during the 1st quarter valued at about $3,607,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 1.1 %

NYSE:LYB opened at $93.94 on Thursday. The company’s 50-day simple moving average is $96.22 and its 200-day simple moving average is $98.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02. The stock has a market capitalization of $30.59 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.28 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate 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 net margin of 5.68% and a return on equity of 18.63%. LyondellBasell Industries’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. On average, equities analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 5.71%. LyondellBasell Industries’s dividend payout ratio (DPR) is 82.84%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LYB. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. UBS Group decreased their target price 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. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $107.27.

LyondellBasell Industries Company 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.