Envestnet Asset Management Inc. Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Envestnet Asset Management Inc. increased its stake in LyondellBasell Industries (NYSE:LYB) by 0.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,065,083 shares of the specialty chemicals company’s stock after buying an additional 6,760 shares during the quarter. Envestnet Asset Management Inc.’s holdings in LyondellBasell Industries were worth $101,886,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norden Group LLC bought a new position in shares of LyondellBasell Industries during the first quarter valued at $3,686,000. Sound Income Strategies LLC lifted its stake in shares of LyondellBasell Industries by 9.3% in the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after buying an additional 18,901 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of LyondellBasell Industries by 8.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after acquiring an additional 21,809 shares in the last quarter. Brevan Howard Capital Management LP raised its holdings in LyondellBasell Industries by 772.9% in 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. bought a new position in LyondellBasell Industries in the 1st quarter valued at approximately $3,607,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 1.0 %

Shares of LyondellBasell Industries stock opened at $94.08 on Tuesday. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The company’s fifty day simple moving average is $96.16 and its 200-day simple moving average is $98.15. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. The stock has a market capitalization of $30.63 billion, a PE ratio of 14.54, a P/E/G ratio of 1.28 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, equities analysts anticipate that LyondellBasell Industries will post 8 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 5.70%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is 82.84%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LYB shares. Deutsche Bank Aktiengesellschaft boosted their price target on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped 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. UBS Group decreased their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $107.27.

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.