Bleakley Financial Group LLC Raises Stake in LyondellBasell Industries (NYSE:LYB)

Bleakley Financial Group LLC raised its position in LyondellBasell Industries (NYSE:LYB) by 10.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,544 shares of the specialty chemicals company’s stock after purchasing an additional 1,321 shares during the period. Bleakley Financial Group LLC’s holdings in LyondellBasell Industries were worth $1,395,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LYB. CVA Family Office LLC raised its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 159 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in LyondellBasell Industries during the first quarter worth approximately $27,000. Beacon Capital Management LLC purchased a new position in LyondellBasell Industries in the first quarter valued at approximately $28,000. Matrix Trust Co acquired a new stake in LyondellBasell Industries during the third quarter worth approximately $30,000. Finally, Blue Trust Inc. lifted its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 227 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LYB shares. Wells Fargo & Company reduced their price target 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. Royal Bank of Canada decreased their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. Barclays dropped their price target on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. UBS Group reduced their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $106.33.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $91.49 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. The firm has a market cap of $29.79 billion, a price-to-earnings ratio of 14.14, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07. The firm’s fifty day moving average price is $95.33 and its 200 day moving average price is $97.07. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.01. The business had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.44 earnings per share. On average, sell-side analysts expect that LyondellBasell Industries will post 7.8 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm 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 5.86%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is 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.