LyondellBasell Industries (NYSE:LYB) Position Increased by Sound Income Strategies LLC

Sound Income Strategies LLC lifted its holdings in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 281,441 shares of the specialty chemicals company's stock after buying an additional 9,815 shares during the period. LyondellBasell Industries accounts for approximately 1.2% of Sound Income Strategies LLC's holdings, making the stock its 25th biggest position. Sound Income Strategies LLC owned 0.09% of LyondellBasell Industries worth $19,813,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Ensign Peak Advisors Inc boosted its stake in LyondellBasell Industries by 207.8% during the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock valued at $167,448,000 after purchasing an additional 1,522,043 shares during the period. Amundi boosted its stake in LyondellBasell Industries by 48.6% during the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company's stock valued at $283,452,000 after purchasing an additional 1,260,913 shares during the period. Norges Bank acquired a new position in LyondellBasell Industries during the 4th quarter valued at about $81,015,000. Raymond James Financial Inc. acquired a new position in LyondellBasell Industries during the 4th quarter valued at about $69,115,000. Finally, Dodge & Cox boosted its stake in 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 purchasing an additional 851,365 shares during the period. Institutional investors own 71.20% of the company's stock.

Analyst Ratings Changes

LYB has been the subject of a number of analyst reports. Wall Street Zen lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Barclays reduced 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 note on Thursday, May 1st. Piper Sandler decreased their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of "Hold" and an average price target of $69.75.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded down $0.07 on Friday, hitting $60.06. The company had a trading volume of 5,098,356 shares, compared to its average volume of 2,834,182. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $100.46. The company has a market cap of $19.30 billion, a PE ratio of 14.51, a PEG ratio of 0.97 and a beta of 0.82. The business has a 50-day simple moving average of $57.65 and a 200-day simple moving average of $68.78. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company's quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. Research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 9.12%. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries's dividend payout ratio (DPR) is presently 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.