State of Alaska Department of Revenue Boosts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

State of Alaska Department of Revenue grew its position in shares of LyondellBasell Industries (NYSE:LYBGet Rating) by 58.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 58,757 shares of the specialty chemicals company’s stock after buying an additional 21,780 shares during the period. State of Alaska Department of Revenue’s holdings in LyondellBasell Industries were worth $5,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in LYB. Covestor Ltd purchased a new position in shares of LyondellBasell Industries during the 4th quarter valued at approximately $31,000. Bank of Montreal Can increased its holdings in LyondellBasell Industries by 17.3% in the 4th quarter. Bank of Montreal Can now owns 304,554 shares of the specialty chemicals company’s stock worth $28,101,000 after acquiring an additional 44,857 shares in the last quarter. Geode Capital Management LLC increased its holdings in LyondellBasell Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,092,810 shares of the specialty chemicals company’s stock worth $469,192,000 after acquiring an additional 173,263 shares in the last quarter. KRS Capital Management LLC purchased a new stake in LyondellBasell Industries in the 4th quarter worth $35,000. Finally, Invesco Ltd. increased its holdings in LyondellBasell Industries by 6.5% in the 4th quarter. Invesco Ltd. now owns 1,954,848 shares of the specialty chemicals company’s stock worth $180,296,000 after acquiring an additional 118,910 shares in the last quarter. 70.07% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Down 0.9 %

NYSE LYB opened at $77.36 on Wednesday. The firm’s 50-day moving average is $85.87 and its two-hundred day moving average is $96.67. LyondellBasell Industries has a 12 month low of $75.65 and a 12 month high of $117.22. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01. The stock has a market capitalization of $25.24 billion, a P/E ratio of 4.76, a PEG ratio of 0.61 and a beta of 1.27.

LyondellBasell Industries (NYSE:LYBGet Rating) last posted its earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, beating analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. The company had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same quarter in the prior year, the company posted $6.13 earnings per share. LyondellBasell Industries’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, sell-side analysts anticipate that LyondellBasell Industries will post 15.9 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 29th were paid a dividend of $1.19 per share. The ex-dividend date was Friday, August 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a yield of 6.15%. LyondellBasell Industries’s dividend payout ratio is 29.01%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $115.00 to $80.00 in a report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of LyondellBasell Industries from $95.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, September 14th. Vertical Research lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $96.00 target price for the company. in a report on Monday, August 1st. Bank of America dropped their target price on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating for the company in a report on Tuesday, June 14th. Finally, Credit Suisse Group assumed coverage on shares of LyondellBasell Industries in a report on Monday, June 27th. They set an “underperform” rating and a $70.00 target price for the company. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $101.45.

LyondellBasell Industries Company Profile

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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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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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