Mediolanum International Funds Ltd Trims Stock Position in LyondellBasell Industries (NYSE:LYB)

Mediolanum International Funds Ltd lessened its position in shares of LyondellBasell Industries (NYSE:LYB) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,503 shares of the specialty chemicals company’s stock after selling 586 shares during the period. Mediolanum International Funds Ltd’s holdings in LyondellBasell Industries were worth $3,610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. increased its holdings in shares of LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP increased its stake in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after acquiring an additional 170,464 shares during the last quarter. Capital World Investors raised its holdings in shares of LyondellBasell Industries by 28.9% in the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after acquiring an additional 600,554 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of LyondellBasell Industries by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after acquiring an additional 6,760 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in shares of LyondellBasell Industries by 0.4% during the third quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after purchasing an additional 3,394 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

LYB opened at $87.50 on Friday. The stock has a fifty day simple moving average of $94.55 and a two-hundred day simple moving average of $96.58. The company has a market cap of $28.49 billion, a price-to-earnings ratio of 13.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. 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 12-month low of $87.41 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its 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. The firm had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. Research analysts predict that LyondellBasell Industries will post 7.53 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. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.13%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 82.84%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. UBS Group lowered their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $106.33.

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.