First County Bank CT Sells 1,471 Shares of LyondellBasell Industries (NYSE:LYB)

First County Bank CT decreased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 12.6% in the 2nd quarter, Holdings Channel reports. The fund owned 10,196 shares of the specialty chemicals company’s stock after selling 1,471 shares during the quarter. First County Bank CT’s holdings in LyondellBasell Industries were worth $975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LYB. Chilton Capital Management LLC bought a new position in LyondellBasell Industries during the 1st quarter worth about $27,000. Gold Investment Management Ltd. bought a new position in shares of LyondellBasell Industries during the fourth quarter worth about $28,000. Beacon Capital Management LLC acquired a new stake in LyondellBasell Industries in the 1st quarter valued at approximately $28,000. Blue Trust Inc. lifted its stake in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $37,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on LYB shares. Wells Fargo & Company lowered their price objective 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. UBS Group lowered their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. 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. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.27.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $96.09 on Friday. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The company has a market cap of $31.24 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.29 and a beta of 1.07. The business’s 50 day moving average price is $96.04 and its two-hundred day moving average price is $97.89. 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 posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period in the previous year, the firm earned $2.44 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries will post 7.94 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

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.