LyondellBasell Industries (NYSE:LYB – Get Free Report) declared a quarterly dividend on Friday, November 17th, RTT News reports. Stockholders of record on Monday, November 27th will be paid a dividend of 1.25 per share by the specialty chemicals company on Monday, December 4th. This represents a $5.00 annualized dividend and a dividend yield of 5.14%.
LyondellBasell Industries has raised its dividend payment by an average of 4.2% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. LyondellBasell Industries has a dividend payout ratio of 51.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect LyondellBasell Industries to earn $9.77 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 51.2%.
LyondellBasell Industries Price Performance
Shares of LYB opened at $97.23 on Friday. The firm has a market cap of $31.54 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.40 and a beta of 1.19. The stock has a 50 day moving average of $94.02 and a 200-day moving average of $93.36. The company has a current ratio of 1.89, a quick ratio of 1.19 and a debt-to-equity ratio of 0.77. LyondellBasell Industries has a 52 week low of $79.20 and a 52 week high of $102.04.
Insider Transactions at LyondellBasell Industries
In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total transaction of $975,600.00. Following the transaction, the executive vice president now owns 49,876 shares in the company, valued at $4,865,902.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.12% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Laurel Wealth Advisors Inc. purchased a new position in LyondellBasell Industries in the fourth quarter valued at about $212,000. Applied Finance Capital Management LLC purchased a new position in LyondellBasell Industries in the fourth quarter valued at about $210,000. Hoxton Planning & Management LLC purchased a new position in LyondellBasell Industries in the first quarter valued at about $207,000. Zions Bancorporation N.A. grew its stake in LyondellBasell Industries by 225.0% in the first quarter. Zions Bancorporation N.A. now owns 858 shares of the specialty chemicals company’s stock valued at $88,000 after purchasing an additional 594 shares in the last quarter. Finally, Certified Advisory Corp purchased a new position in LyondellBasell Industries in the first quarter valued at about $57,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.
Analysts Set New Price Targets
LYB has been the topic of several recent analyst reports. KeyCorp raised LyondellBasell Industries from an “underweight” rating to a “sector weight” rating in a research note on Tuesday, October 3rd. Royal Bank of Canada cut their target price on LyondellBasell Industries from $121.00 to $116.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 9th. Bank of America raised LyondellBasell Industries from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $99.00 to $107.00 in a research note on Wednesday, October 18th. StockNews.com started coverage on LyondellBasell Industries in a research note on Thursday, October 5th. They set a “buy” rating on the stock. Finally, Citigroup raised LyondellBasell Industries from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $104.00 to $106.00 in a research note on Tuesday, October 3rd. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.07.
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.
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