DAVENPORT & Co LLC Boosts Position in LyondellBasell Industries N.V. (NYSE:LYB)

DAVENPORT & Co LLC boosted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 36.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,820 shares of the specialty chemicals company's stock after buying an additional 11,875 shares during the period. DAVENPORT & Co LLC's holdings in LyondellBasell Industries were worth $3,155,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in LyondellBasell Industries by 2.4% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,675 shares of the specialty chemicals company's stock worth $3,708,000 after buying an additional 1,211 shares during the period. Cidel Asset Management Inc. increased its holdings in shares of LyondellBasell Industries by 7.8% in the first quarter. Cidel Asset Management Inc. now owns 4,763 shares of the specialty chemicals company's stock valued at $335,000 after purchasing an additional 344 shares during the period. Astoria Portfolio Advisors LLC. acquired a new position in shares of LyondellBasell Industries in the first quarter valued at approximately $262,000. Mather Group LLC. increased its holdings in shares of LyondellBasell Industries by 42.9% in the first quarter. Mather Group LLC. now owns 1,112 shares of the specialty chemicals company's stock valued at $78,000 after purchasing an additional 334 shares during the period. Finally, Townsend & Associates Inc increased its holdings in shares of LyondellBasell Industries by 28.1% in the first quarter. Townsend & Associates Inc now owns 29,019 shares of the specialty chemicals company's stock valued at $2,043,000 after purchasing an additional 6,371 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded down $0.56 during trading on Friday, reaching $62.00. The company's stock had a trading volume of 1,962,870 shares, compared to its average volume of 2,943,356. 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 12-month low of $51.11 and a 12-month high of $100.46. The company has a market capitalization of $19.93 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 2.65 and a beta of 0.82. The business has a 50 day moving average price of $58.32 and a 200-day moving average price of $66.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share 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 analysts' expectations of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. As a group, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current 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. This represents a $5.48 dividend on an annualized basis and a yield of 8.84%. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries's payout ratio is presently 169.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, April 4th. UBS Group reissued a "sell" rating and issued a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Citigroup dropped their target price on LyondellBasell Industries from $58.00 to $56.00 in a report on Wednesday, June 11th. Piper Sandler dropped their target price on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Finally, BMO Capital Markets dropped their target price on LyondellBasell Industries from $65.00 to $60.00 in a report on Friday, June 27th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $68.31.

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.