Wealth Enhancement Advisory Services LLC lessened its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 71.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,241 shares of the specialty chemicals company's stock after selling 154,901 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in LyondellBasell Industries were worth $4,311,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LYB. Dodge & Cox increased its position in shares of LyondellBasell Industries by 5.3% in 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 buying an additional 851,365 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company's stock valued at $637,394,000 after acquiring an additional 558,137 shares during the period. Geode Capital Management LLC raised its position in shares of LyondellBasell Industries by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company's stock worth $512,913,000 after purchasing an additional 199,054 shares during the period. Invesco Ltd. lifted its holdings in shares of LyondellBasell Industries by 13.5% during the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after purchasing an additional 694,055 shares in the last quarter. Finally, Amundi grew its position in shares of LyondellBasell Industries by 48.6% in 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. Institutional investors and hedge funds own 71.20% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Citigroup dropped their price target on LyondellBasell Industries from $66.00 to $58.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. UBS Group reaffirmed a "sell" rating and set a $51.00 price objective (down from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Royal Bank Of Canada dropped their target price on LyondellBasell Industries from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Finally, Barclays reduced their price target on 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. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $69.75.
Check Out Our Latest Research Report on LyondellBasell Industries
LyondellBasell Industries Stock Performance
LYB stock traded up $0.35 during midday trading on Friday, reaching $58.75. 4,103,489 shares of the company were exchanged, compared to its average volume of 2,901,206. LyondellBasell Industries N.V. has a one year low of $51.11 and a one year high of $100.46. The firm has a market capitalization of $18.88 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 2.14 and a beta of 0.82. The business has a 50-day moving average price of $57.99 and a two-hundred day moving average price of $67.54. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04.
LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The business's quarterly revenue was down 7.6% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.
LyondellBasell Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders 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 dividend yield of 9.33%. The ex-dividend date was Monday, June 2nd. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. LyondellBasell Industries's payout ratio is currently 169.14%.
LyondellBasell Industries Company Profile
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Free Report)
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.
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