Cincinnati Insurance Co. Acquires 41,000 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Cincinnati Insurance Co. boosted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 785,666 shares of the specialty chemicals company's stock after buying an additional 41,000 shares during the period. Cincinnati Insurance Co. owned approximately 0.24% of LyondellBasell Industries worth $55,311,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&T Bank Corp raised its holdings in shares of LyondellBasell Industries by 1.1% in the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock valued at $1,405,000 after purchasing an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS increased its holdings in LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after buying an additional 148,500 shares during the last quarter. Private Advisor Group LLC increased its holdings in LyondellBasell Industries by 44.3% during the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock worth $1,019,000 after buying an additional 4,442 shares during the last quarter. GAMMA Investing LLC increased its holdings in LyondellBasell Industries by 56.7% during the first quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after buying an additional 1,091 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in LyondellBasell Industries by 28.3% during the first quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock worth $642,000 after buying an additional 2,021 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LYB shares. Piper Sandler lowered their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. UBS Group dropped their price objective on shares of LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating on the stock in a research report on Wednesday, July 9th. 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. Bank Of America (Bofa) decreased their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Finally, Royal Bank Of Canada upped their price target on shares of LyondellBasell Industries from $61.00 to $64.00 and gave the company a "sector perform" rating in a research note on Thursday, July 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of "Hold" and an average price target of $66.00.

LyondellBasell Industries Price Performance

Shares of LYB stock traded down $4.52 on Friday, reaching $53.41. The company had a trading volume of 10,553,832 shares, compared to its average volume of 3,901,283. The business's 50-day moving average is $60.13 and its 200 day moving average is $65.35. LyondellBasell Industries N.V. has a one year low of $51.11 and a one year high of $99.36. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $17.17 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 3.39 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the company earned $2.24 EPS. The business's quarterly revenue was down 11.8% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a yield of 10.3%. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's payout ratio is currently 169.14%.

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.