Pallas Capital Advisors LLC Acquires New Holdings in LyondellBasell Industries (NYSE:LYB)

Pallas Capital Advisors LLC acquired a new stake in LyondellBasell Industries (NYSE:LYB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,274 shares of the specialty chemicals company's stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Apollon Wealth Management LLC raised its stake in LyondellBasell Industries by 56.4% during the 4th quarter. Apollon Wealth Management LLC now owns 5,503 shares of the specialty chemicals company's stock worth $409,000 after acquiring an additional 1,984 shares in the last quarter. Savant Capital LLC increased its position in shares of LyondellBasell Industries by 100.1% during the fourth quarter. Savant Capital LLC now owns 15,721 shares of the specialty chemicals company's stock worth $1,168,000 after purchasing an additional 7,866 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of LyondellBasell Industries by 1.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 120,838 shares of the specialty chemicals company's stock valued at $8,959,000 after purchasing an additional 1,403 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of LyondellBasell Industries by 132.7% in the 4th quarter. Vontobel Holding Ltd. now owns 11,450 shares of the specialty chemicals company's stock valued at $850,000 after purchasing an additional 6,529 shares during the last quarter. Finally, DT Investment Partners LLC boosted its position in shares of LyondellBasell Industries by 7.1% in the 4th quarter. DT Investment Partners LLC now owns 11,483 shares of the specialty chemicals company's stock valued at $853,000 after purchasing an additional 758 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYB has been the subject of a number of research reports. Citigroup reduced their price objective on LyondellBasell Industries from $66.00 to $58.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. UBS Group reiterated a "sell" rating and set a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Finally, Barclays lowered their price target on LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a report on Thursday, May 1st. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $69.75.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $0.07 on Friday, reaching $60.06. 5,098,356 shares of the company were exchanged, compared to its average volume of 2,822,849. The company has a 50-day moving average of $57.51 and a 200-day moving average of $69.03. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $100.46.

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 the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the company posted $1.53 earnings per share. The company's quarterly revenue was down 7.6% compared to the same quarter last year. Equities analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

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