Ascent Group LLC Sells 2,856 Shares of LyondellBasell Industries (NYSE:LYB)

Ascent Group LLC decreased its position in LyondellBasell Industries (NYSE:LYB) by 11.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,191 shares of the specialty chemicals company’s stock after selling 2,856 shares during the quarter. Ascent Group LLC’s holdings in LyondellBasell Industries were worth $2,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Capital World Investors purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth $197,305,000. Ilex Capital Partners UK LLP purchased a new position in LyondellBasell Industries in the first quarter worth about $61,327,000. Pacer Advisors Inc. increased its stake in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares during the last quarter. Ensign Peak Advisors Inc raised its position in LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after purchasing an additional 347,877 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after purchasing an additional 290,401 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYB has been the topic of several recent research reports. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. UBS Group cut their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $107.27.

LyondellBasell Industries Stock Up 0.3 %

NYSE:LYB opened at $96.43 on Monday. 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 company has a 50-day moving average of $96.03 and a 200 day moving average of $97.82. The firm has a market cap of $31.40 billion, a PE ratio of 14.90, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The firm had revenue of $10.56 billion for 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%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.44 earnings per share. As a group, research analysts anticipate that LyondellBasell Industries will post 7.94 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 5.56%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 82.84%.

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.