Sonora Investment Management Group LLC Acquires 7,986 Shares of LyondellBasell Industries (NYSE:LYB)

Sonora Investment Management Group LLC lifted its stake in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 145,302 shares of the specialty chemicals company's stock after buying an additional 7,986 shares during the quarter. Sonora Investment Management Group LLC's holdings in LyondellBasell Industries were worth $10,229,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of LYB. Proficio Capital Partners LLC acquired a new position in LyondellBasell Industries in the 4th quarter valued at $3,760,000. M&T Bank Corp boosted its position in shares of LyondellBasell Industries by 2.4% in the fourth quarter. M&T Bank Corp now owns 19,741 shares of the specialty chemicals company's stock valued at $1,467,000 after acquiring an additional 461 shares during the period. Allworth Financial LP boosted its position in shares of LyondellBasell Industries by 59.6% in the fourth quarter. Allworth Financial LP now owns 1,511 shares of the specialty chemicals company's stock valued at $116,000 after acquiring an additional 564 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of LyondellBasell Industries by 1.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 120,838 shares of the specialty chemicals company's stock valued at $8,959,000 after acquiring an additional 1,403 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its position in LyondellBasell Industries by 56.4% during the fourth 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 during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

Shares of LYB traded down $0.07 during trading hours on Friday, reaching $60.06. The stock had a trading volume of 5,098,356 shares, compared to its average volume of 2,828,420. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 12 month low of $51.11 and a 12 month high of $100.46. The stock has a market capitalization of $19.30 billion, a PE ratio of 14.51, a PEG ratio of 0.97 and a beta of 0.82. The company's 50-day moving average is $57.51 and its two-hundred day moving average is $69.03.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. LyondellBasell Industries's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.53 earnings per share. Research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current 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 given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a yield of 9.12%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 169.14%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LYB. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, April 4th. BMO Capital Markets cut their price objective 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. JPMorgan Chase & Co. restated a "neutral" rating and issued a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Barclays cut their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Royal Bank of Canada decreased their price objective on shares of LyondellBasell Industries from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research note on Tuesday, April 29th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $69.75.

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.