Applied Finance Capital Management LLC Raises Position in LyondellBasell Industries N.V. (NYSE:LYB)

Applied Finance Capital Management LLC grew its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 30.7% in the 1st quarter, Holdings Channel.com reports. The firm owned 19,777 shares of the specialty chemicals company’s stock after purchasing an additional 4,649 shares during the period. Applied Finance Capital Management LLC’s holdings in LyondellBasell Industries were worth $1,392,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYB. Rossby Financial LCC bought a new stake in LyondellBasell Industries in the first quarter worth $25,000. JFS Wealth Advisors LLC increased its position in LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after acquiring an additional 310 shares during the last quarter. Lazard Asset Management LLC raised its stake 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 valued at $34,000 after acquiring an additional 214 shares during the period. Covestor Ltd lifted its holdings in shares of LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 284 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in shares of LyondellBasell Industries in the 1st quarter worth about $42,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LYB shares. Piper Sandler cut their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Argus lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. UBS Group reduced their price target on LyondellBasell Industries from $50.00 to $49.00 and set a “sell” rating on the stock in a report on Wednesday, July 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Finally, Citigroup dropped their price objective on LyondellBasell Industries from $58.00 to $56.00 in a report on Wednesday, June 11th. Three investment 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. According to MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price of $66.00.

LyondellBasell Industries Price Performance

LYB opened at $64.06 on Friday. The company has a market capitalization of $20.59 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 3.41 and a beta of 0.82. The company has a current ratio of 1.83, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a 12-month low of $51.11 and a 12-month high of $100.46. The business’s fifty day simple moving average is $59.95 and its 200-day simple moving average is $65.86.

LyondellBasell Industries (NYSE:LYB) last released 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). LyondellBasell Industries had a return on equity of 13.19% and a net margin of 2.81%. The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.69 billion. During the same period last year, the company earned $1.53 earnings per share. The firm’s revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal 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 represents a $5.48 annualized dividend and a dividend yield of 8.56%. 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 dividend payout ratio is presently 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.