LyondellBasell Industries N.V. (NYSE:LYB) Stake Lessened by KBC Group NV

KBC Group NV cut its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 11.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 553,766 shares of the specialty chemicals company's stock after selling 72,925 shares during the quarter. KBC Group NV owned 0.17% of LyondellBasell Industries worth $38,985,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LYB. JFS Wealth Advisors LLC lifted its position in shares of LyondellBasell Industries by 352.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 310 shares during the last quarter. Lazard Asset Management LLC raised its stake in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after acquiring an additional 214 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in LyondellBasell Industries during the fourth quarter worth about $37,000. Covestor Ltd boosted its stake in LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 284 shares during the period. Finally, Versant Capital Management Inc grew its holdings in shares of LyondellBasell Industries by 127.9% during the first quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company's stock valued at $61,000 after purchasing an additional 486 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded up $1.33 on Wednesday, hitting $62.53. The company had a trading volume of 4,244,124 shares, compared to its average volume of 2,931,507. LyondellBasell Industries N.V. has a 52 week low of $51.11 and a 52 week high of $100.46. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04. The business has a 50-day simple moving average of $58.22 and a 200-day simple moving average of $67.09. The company has a market cap of $20.10 billion, a PE ratio of 19.30, a PEG ratio of 2.61 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a return on equity of 13.19% and a net margin of 2.81%. The firm's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.53 earnings per share. Research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.76%. The ex-dividend date was Monday, June 2nd. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's dividend payout ratio is 169.14%.

Wall Street Analyst Weigh In

LYB has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, April 4th. Piper Sandler cut their target price on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada lowered their price target on shares of LyondellBasell Industries from $62.00 to $61.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 29th. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, BMO Capital Markets decreased their target price on shares of LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $69.75.

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.