KLP Kapitalforvaltning AS Increases Position in LyondellBasell Industries N.V. (NYSE:LYB)

KLP Kapitalforvaltning AS boosted its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 166.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 237,831 shares of the specialty chemicals company's stock after buying an additional 148,500 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.07% of LyondellBasell Industries worth $16,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Rossby Financial LCC purchased a new position in shares of LyondellBasell Industries during the 1st quarter valued at $25,000. JFS Wealth Advisors LLC grew its position in LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 310 shares in the last quarter. Lazard Asset Management LLC grew its position in LyondellBasell Industries by 84.9% in 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 in the last quarter. Covestor Ltd grew its position in LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock worth $41,000 after acquiring an additional 284 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in LyondellBasell Industries in the first quarter worth $42,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LYB shares. Barclays cut their target price 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. BMO Capital Markets cut their target price on shares of LyondellBasell Industries from $65.00 to $60.00 in a research report on Friday, June 27th. Wall Street Zen lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. The Goldman Sachs Group lowered their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research note on Monday, April 28th. Finally, Fermium Researc raised shares of LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $66.00.

LyondellBasell Industries Trading Up 5.5%

Shares of NYSE:LYB traded up $3.36 during midday trading on Friday, hitting $64.06. 5,730,012 shares of the stock traded hands, compared to its average volume of 3,417,836. The stock has a market capitalization of $20.59 billion, a PE ratio of 19.77, a P/E/G ratio of 3.60 and a beta of 0.82. The business's 50 day moving average is $59.95 and its two-hundred day moving average is $65.81. 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 one year low of $51.11 and a one year high of $100.46.

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

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were paid a $1.37 dividend. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a yield of 8.56%. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries's dividend payout ratio is presently 169.14%.

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.