Glenmede Trust Co. NA Has $1.12 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

Glenmede Trust Co. NA increased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 3.8% in the third quarter, Holdings Channel reports. The firm owned 11,628 shares of the specialty chemicals company’s stock after buying an additional 423 shares during the quarter. Glenmede Trust Co. NA’s holdings in LyondellBasell Industries were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Bridgewater Associates LP acquired a new position in LyondellBasell Industries during the 3rd quarter worth approximately $2,491,000. Townsquare Capital LLC grew its holdings in shares of LyondellBasell Industries by 37.8% in the 3rd quarter. Townsquare Capital LLC now owns 45,193 shares of the specialty chemicals company’s stock valued at $4,334,000 after acquiring an additional 12,408 shares in the last quarter. Cadence Bank increased its position in shares of LyondellBasell Industries by 2.7% in the third quarter. Cadence Bank now owns 82,929 shares of the specialty chemicals company’s stock valued at $7,953,000 after acquiring an additional 2,174 shares during the last quarter. Brooklyn Investment Group bought a new stake in LyondellBasell Industries during the third quarter worth about $60,000. Finally, Quantbot Technologies LP bought a new position in LyondellBasell Industries in the third quarter valued at approximately $3,168,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 1.6 %

Shares of NYSE:LYB opened at $82.03 on Tuesday. LyondellBasell Industries has a 52-week low of $81.06 and a 52-week high of $107.02. The firm has a market cap of $26.64 billion, a P/E ratio of 12.49, a PEG ratio of 2.33 and a beta of 1.08. The business’s 50 day simple moving average is $88.88 and its two-hundred day simple moving average is $93.62. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.46 earnings per share. As a group, research analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.53%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LYB shares. Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Barclays reduced their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Finally, Piper Sandler dropped their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $101.70.

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.