Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,211 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,675 shares of the specialty chemicals company’s stock after acquiring an additional 1,211 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in LyondellBasell Industries were worth $3,708,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Cidel Asset Management Inc. increased its holdings in shares of LyondellBasell Industries by 7.8% during the first quarter. Cidel Asset Management Inc. now owns 4,763 shares of the specialty chemicals company’s stock worth $335,000 after purchasing an additional 344 shares during the period. Astoria Portfolio Advisors LLC. bought a new position in shares of LyondellBasell Industries during the first quarter worth approximately $262,000. Mather Group LLC. increased its stake in LyondellBasell Industries by 42.9% during the 1st quarter. Mather Group LLC. now owns 1,112 shares of the specialty chemicals company’s stock worth $78,000 after acquiring an additional 334 shares during the period. Townsend & Associates Inc increased its stake in LyondellBasell Industries by 28.1% during the 1st quarter. Townsend & Associates Inc now owns 29,019 shares of the specialty chemicals company’s stock worth $2,043,000 after acquiring an additional 6,371 shares during the period. Finally, Amalgamated Bank increased its stake in LyondellBasell Industries by 1.5% during the 1st quarter. Amalgamated Bank now owns 50,802 shares of the specialty chemicals company’s stock worth $3,576,000 after acquiring an additional 745 shares during the period. 71.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LYB shares. Fermium Researc upgraded LyondellBasell Industries to a “strong-buy” rating in a research note on Friday, April 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. The Goldman Sachs Group decreased their target price on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, April 28th. BMO Capital Markets decreased their target price on shares of LyondellBasell Industries from $65.00 to $60.00 in a report on Friday, June 27th. Finally, Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $68.31.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $62.00 on Friday. The firm’s fifty day moving average price is $58.27 and its two-hundred day moving average price is $67.00. The stock has a market cap of $19.93 billion, a PE ratio of 19.14, a PEG ratio of 2.67 and a beta of 0.82. LyondellBasell Industries N.V. has a fifty-two week low of $51.11 and a fifty-two week high of $100.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.83.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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 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 13.19% and a net margin of 2.81%. The company’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.53 EPS. On average, equities analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently declared 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 is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a dividend yield of 8.84%. The ex-dividend date of this dividend was Monday, June 2nd. LyondellBasell Industries’s payout ratio is 169.14%.

LyondellBasell Industries 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.