Frank Rimerman Advisors LLC Takes $1.85 Million Position in LyondellBasell Industries (NYSE:LYB)

Frank Rimerman Advisors LLC acquired a new position in shares of LyondellBasell Industries (NYSE:LYB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 19,357 shares of the specialty chemicals company’s stock, valued at approximately $1,852,000.

Several other large investors have also recently bought and sold shares of LYB. Gryphon Financial Partners LLC lifted its stake in shares of LyondellBasell Industries by 11.7% in the fourth quarter. Gryphon Financial Partners LLC now owns 18,606 shares of the specialty chemicals company’s stock valued at $1,767,000 after purchasing an additional 1,956 shares during the period. Norges Bank acquired a new stake in shares of LyondellBasell Industries in the 4th quarter worth approximately $82,854,000. Assetmark Inc. increased its stake in LyondellBasell Industries by 12.3% in the 4th quarter. Assetmark Inc. now owns 20,796 shares of the specialty chemicals company’s stock valued at $1,977,000 after purchasing an additional 2,285 shares in the last quarter. Franklin Resources Inc. raised its holdings in LyondellBasell Industries by 28.7% during the fourth quarter. Franklin Resources Inc. now owns 466,347 shares of the specialty chemicals company’s stock worth $44,340,000 after purchasing an additional 104,067 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in LyondellBasell Industries by 11.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,228 shares of the specialty chemicals company’s stock worth $117,000 after purchasing an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lowered 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 report on Friday, September 13th. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, UBS Group lowered their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $107.27.

LyondellBasell Industries Trading Down 2.1 %

Shares of LYB stock opened at $94.04 on Monday. The firm’s 50-day simple moving average is $96.23 and its 200-day simple moving average is $97.98. 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 firm has a market cap 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 announced its quarterly earnings results 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 analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. LyondellBasell Industries’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. As a group, equities analysts forecast that LyondellBasell Industries will post 8 EPS for the current year.

LyondellBasell Industries Announces Dividend

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

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.