EverSource Wealth Advisors LLC lifted its holdings in LyondellBasell Industries (NYSE:LYB – Get Rating) by 81.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 664 shares of the specialty chemicals company’s stock after purchasing an additional 298 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in LyondellBasell Industries were worth $68,000 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. Rafferty Asset Management LLC purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at $714,000. Covestor Ltd purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at $31,000. Equitable Holdings Inc. grew its holdings in shares of LyondellBasell Industries by 40.5% in the fourth quarter. Equitable Holdings Inc. now owns 6,615 shares of the specialty chemicals company’s stock valued at $610,000 after purchasing an additional 1,908 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of LyondellBasell Industries by 17.3% in the fourth quarter. Bank of Montreal Can now owns 304,554 shares of the specialty chemicals company’s stock valued at $28,101,000 after purchasing an additional 44,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of LyondellBasell Industries by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,459,148 shares of the specialty chemicals company’s stock valued at $134,578,000 after purchasing an additional 40,658 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $115.00 to $98.00 in a research note on Monday, July 25th. Morgan Stanley decreased their target price on LyondellBasell Industries from $127.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, August 2nd. KeyCorp downgraded LyondellBasell Industries from a “sector weight” rating to an “underweight” rating and set a $73.00 target price for the company. in a research report on Monday, August 29th. Finally, Bank of America decreased their target price on LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating for the company in a research report on Tuesday, June 14th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $101.95.
LyondellBasell Industries Price Performance
LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share for the quarter, topping analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. The business had revenue of $14.84 billion for the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the previous year, the firm earned $6.13 earnings per share. The company’s revenue was up 28.3% on a year-over-year basis. As a group, equities analysts forecast that LyondellBasell Industries will post 16.25 earnings per share for the current fiscal year.
LyondellBasell Industries Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were paid a dividend of $1.19 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.13. The ex-dividend date was Friday, August 26th. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.17%. LyondellBasell Industries’s payout ratio is presently 29.01%.
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.
- Get a free copy of the StockNews.com research report on LyondellBasell Industries (LYB)
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