Inspire Investing LLC Trims Holdings in LyondellBasell Industries (NYSE:LYB)

Inspire Investing LLC lessened its stake in LyondellBasell Industries (NYSE:LYB) by 30.6% in the second quarter, Holdings Channel reports. The institutional investor owned 3,734 shares of the specialty chemicals company’s stock after selling 1,649 shares during the quarter. Inspire Investing LLC’s holdings in LyondellBasell Industries were worth $357,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital World Investors bought a new stake in shares of LyondellBasell Industries in the 4th quarter worth about $197,305,000. Norges Bank acquired a new stake in LyondellBasell Industries during the fourth quarter valued at approximately $82,854,000. Ilex Capital Partners UK LLP bought a new position in LyondellBasell Industries during the 1st quarter worth approximately $61,327,000. Allianz Asset Management GmbH grew its position in shares of LyondellBasell Industries by 826.1% in the 4th quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock worth $38,911,000 after acquiring an additional 365,050 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of LyondellBasell Industries by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after acquiring an additional 290,401 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 2.1 %

Shares of LyondellBasell Industries stock opened at $94.04 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The business’s fifty day moving average price is $96.23 and its two-hundred day moving average price is $98.00. The company has a market capitalization of $30.62 billion, a P/E ratio of 14.53, a PEG ratio of 1.28 and a beta of 1.07.

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 business had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, research analysts forecast that LyondellBasell Industries will post 8 EPS for the current year.

LyondellBasell Industries Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently issued reports on LYB. UBS Group reduced 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. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Finally, Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $107.27.

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.