LyondellBasell Industries (NYSE:LYB) Shares Purchased by Rockland Trust Co.

Rockland Trust Co. grew its stake in shares of LyondellBasell Industries (NYSE:LYB) by 10.6% in the first quarter, Holdings Channel.com reports. The fund owned 15,148 shares of the specialty chemicals company’s stock after buying an additional 1,456 shares during the quarter. Rockland Trust Co.’s holdings in LyondellBasell Industries were worth $1,066,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at $37,000. Lazard Asset Management LLC boosted its holdings in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 214 shares during the period. Covestor Ltd increased its position in shares of LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 284 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of LyondellBasell Industries by 127.9% during the first quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock valued at $61,000 after acquiring an additional 486 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of LyondellBasell Industries by 223.3% in the 1st quarter. UMB Bank n.a. now owns 928 shares of the specialty chemicals company’s stock valued at $65,000 after acquiring an additional 641 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Down 0.1%

Shares of LyondellBasell Industries stock opened at $60.06 on Friday. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $100.46. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average price of $57.65 and a two-hundred day moving average price of $68.87. The stock has a market capitalization of $19.30 billion, a P/E ratio of 14.51, a PEG ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm 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%. LyondellBasell Industries’s quarterly revenue was down 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 earnings per share. Equities analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a $1.37 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a dividend yield of 9.12%. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 169.14%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LYB. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. The Goldman Sachs Group dropped their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. UBS Group reissued a “sell” rating and set a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Fermium Researc raised LyondellBasell Industries to a “strong-buy” rating in a research note on Friday, April 25th. Finally, Argus lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $69.75.

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.