Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,296 Shares of LyondellBasell Industries (NYSE:LYB)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in LyondellBasell Industries (NYSE:LYB) by 2.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,142 shares of the specialty chemicals company’s stock after purchasing an additional 1,296 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in LyondellBasell Industries were worth $4,521,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LYB. Fisher Asset Management LLC acquired a new position in shares of LyondellBasell Industries during the 4th quarter worth about $214,000. Quadrature Capital Ltd bought a new stake in LyondellBasell Industries in the fourth quarter valued at approximately $691,000. Nomura Holdings Inc. acquired a new stake in LyondellBasell Industries in the fourth quarter worth $491,000. Massmutual Trust Co. FSB ADV raised its holdings in LyondellBasell Industries by 32.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 553 shares of the specialty chemicals company’s stock worth $57,000 after purchasing an additional 134 shares during the period. Finally, Gulf International Bank UK Ltd grew its holdings in shares of LyondellBasell Industries by 0.9% in the 1st quarter. Gulf International Bank UK Ltd now owns 21,463 shares of the specialty chemicals company’s stock valued at $2,195,000 after buying an additional 182 shares during the period. 71.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the company. UBS Group dropped their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Barclays cut their price objective on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Wells Fargo & Company cut their price target 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. Finally, Royal Bank of Canada lowered their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $106.33.

LyondellBasell Industries Stock Down 0.1 %

LyondellBasell Industries stock opened at $91.49 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The company has a fifty day simple moving average of $95.33 and a 200 day simple moving average of $97.07. The company has a market cap of $29.79 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07.

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, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period last year, the company earned $2.44 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 7.8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.86%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 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.