Verity & Verity LLC Has $10.28 Million Stake in LyondellBasell Industries (NYSE:LYB)

Verity & Verity LLC boosted its holdings in LyondellBasell Industries (NYSE:LYB) by 0.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 107,444 shares of the specialty chemicals company’s stock after acquiring an additional 915 shares during the period. Verity & Verity LLC’s holdings in LyondellBasell Industries were worth $10,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Focus Financial Network Inc. ADV bought a new position in LyondellBasell Industries in the 4th quarter valued at about $229,000. Scotia Capital Inc. grew its position in shares of LyondellBasell Industries by 67.1% during the 4th quarter. Scotia Capital Inc. now owns 9,191 shares of the specialty chemicals company’s stock worth $874,000 after purchasing an additional 3,690 shares in the last quarter. NEOS Investment Management LLC increased its holdings in shares of LyondellBasell Industries by 44.8% during the fourth quarter. NEOS Investment Management LLC now owns 3,269 shares of the specialty chemicals company’s stock worth $311,000 after purchasing an additional 1,011 shares during the period. Rafferty Asset Management LLC raised its position in shares of LyondellBasell Industries by 4.2% in the fourth quarter. Rafferty Asset Management LLC now owns 19,886 shares of the specialty chemicals company’s stock valued at $1,891,000 after buying an additional 805 shares in the last quarter. Finally, Capital World Investors acquired a new stake in LyondellBasell Industries during the fourth quarter worth approximately $197,305,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LYB. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped their price target 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. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Finally, UBS Group cut their price target 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. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $107.27.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $95.82 on Wednesday. The firm has a 50 day moving average of $95.99 and a 200-day moving average of $97.76. The company has a market cap of $31.20 billion, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.29 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 has a 52 week low of $88.46 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period last year, the company posted $2.44 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities analysts forecast that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.59%. LyondellBasell Industries’s payout ratio is currently 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.