Cetera Investment Advisers Grows Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Cetera Investment Advisers increased its stake in LyondellBasell Industries by 25.5%, owning 122,068 shares valued at $8,594,000 following the acquisition of 24,768 additional shares.
• LyondellBasell Industries recently raised its quarterly dividend to $1.37 per share, reflecting a positive change from the previous dividend of $1.34 and representing a 9.5% yield.
• Despite recent increases in stake by some institutional investors, LyondellBasell's stock is currently down 1.5% with an average price target from analysts at $66.00.

Cetera Investment Advisers boosted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 25.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,068 shares of the specialty chemicals company's stock after acquiring an additional 24,768 shares during the quarter. Cetera Investment Advisers' holdings in LyondellBasell Industries were worth $8,594,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LYB. Ensign Peak Advisors Inc boosted its holdings in shares of LyondellBasell Industries by 207.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock worth $167,448,000 after buying an additional 1,522,043 shares during the last quarter. Norges Bank bought a new position in LyondellBasell Industries in the fourth quarter worth approximately $81,015,000. Dodge & Cox grew its position in shares of LyondellBasell Industries by 5.3% during the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock valued at $1,260,052,000 after acquiring an additional 851,365 shares during the period. Wellington Management Group LLP increased its stake in shares of LyondellBasell Industries by 35.9% in the 4th quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company's stock worth $213,204,000 after purchasing an additional 757,612 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock worth $432,721,000 after purchasing an additional 694,055 shares during the period. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Down 1.5%

LYB opened at $57.95 on Friday. The company has a market capitalization of $18.62 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 3.45 and a beta of 0.82. The firm has a 50-day simple moving average of $60.18 and a two-hundred day simple moving average of $65.50. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a 52 week low of $51.11 and a 52 week high of $100.46.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were issued a dividend of $1.37 per share. This is a positive change from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.48 annualized dividend and a dividend yield of 9.5%. LyondellBasell Industries's payout ratio is currently 169.14%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LYB. Citigroup cut their price target on LyondellBasell Industries from $58.00 to $56.00 in a report on Wednesday, June 11th. BMO Capital Markets reduced their target price on shares of LyondellBasell Industries from $65.00 to $60.00 in a report on Friday, June 27th. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. Barclays dropped their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Finally, Argus downgraded shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $66.00.

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.

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