Toronto Dominion Bank Has $12.02 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

Toronto Dominion Bank cut its stake in shares of LyondellBasell Industries (NYSE:LYB) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,684 shares of the specialty chemicals company’s stock after selling 19,061 shares during the period. Toronto Dominion Bank’s holdings in LyondellBasell Industries were worth $12,023,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norden Group LLC bought a new position in LyondellBasell Industries in the first quarter valued at about $3,686,000. Sound Income Strategies LLC raised its holdings in 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 valued at $22,679,000 after buying an additional 18,901 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in LyondellBasell Industries by 8.4% during 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 buying an additional 21,809 shares during the period. Brevan Howard Capital Management LP grew its holdings in LyondellBasell Industries by 772.9% during 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 acquiring an additional 18,518 shares during the last quarter. Finally, Banco Santander S.A. acquired a new position in LyondellBasell Industries in the 1st quarter valued at approximately $3,607,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $96.43 on Friday. The firm has a 50 day moving average of $96.04 and a 200-day moving average of $97.89. The company has a market cap of $31.40 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period last year, the company posted $2.44 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared 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. This represents a $5.36 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 82.84%.

Wall Street Analyst Weigh In

LYB has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft lifted their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. 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 note on Monday, August 5th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $107.27.

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.