Moors & Cabot Inc. Decreases Holdings in LyondellBasell Industries (NYSE:LYB)

Moors & Cabot Inc. reduced its stake in shares of LyondellBasell Industries (NYSE:LYB) by 14.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,831 shares of the specialty chemicals company’s stock after selling 462 shares during the period. Moors & Cabot Inc.’s holdings in LyondellBasell Industries were worth $271,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LYB. Citizens Financial Group Inc. RI increased its position in shares of LyondellBasell Industries by 182.3% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 6,555 shares of the specialty chemicals company’s stock valued at $627,000 after purchasing an additional 4,233 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of LyondellBasell Industries by 3.8% in the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after acquiring an additional 170,464 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of LyondellBasell Industries by 4,559.3% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,007 shares of the specialty chemicals company’s stock worth $383,000 after acquiring an additional 3,921 shares during the last quarter. WINTON GROUP Ltd purchased a new position in shares of LyondellBasell Industries during the 2nd quarter worth about $17,683,000. Finally, Envestnet Asset Management Inc. raised its position in LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after purchasing an additional 6,760 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LYB. Deutsche Bank Aktiengesellschaft boosted their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Finally, UBS Group lowered their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. 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 company. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and a consensus price target of $107.27.

LyondellBasell Industries Stock Down 2.1 %

LyondellBasell Industries stock opened at $94.04 on Friday. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The business has a fifty day moving average of $96.23 and a two-hundred day moving average of $98.02. The firm has a market cap of $30.62 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.28 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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. 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%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. On average, analysts forecast that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

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

About LyondellBasell Industries

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.