LyondellBasell Industries (NYSE:LYB) Shares Sold by Optas LLC

Optas LLC trimmed its holdings in LyondellBasell Industries (NYSE:LYB) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,471 shares of the specialty chemicals company’s stock after selling 309 shares during the period. Optas LLC’s holdings in LyondellBasell Industries were worth $355,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. PGGM Investments lifted its stake in shares of LyondellBasell Industries by 6.9% in the 4th quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock valued at $1,299,000 after purchasing an additional 879 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $14,000,000. Arvest Investments Inc. acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $2,001,000. Oak Thistle LLC acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $1,426,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of LyondellBasell Industries by 25.1% in the 4th quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock valued at $22,198,000 after purchasing an additional 46,871 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

NYSE:LYB traded down $0.17 during midday trading on Friday, reaching $95.66. 3,049,060 shares of the company traded hands, compared to its average volume of 1,811,149. LyondellBasell Industries has a twelve month low of $87.91 and a twelve month high of $107.02. The firm has a market capitalization of $31.15 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The company has a fifty day moving average price of $98.15 and a 200 day moving average price of $98.03.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend was Monday, June 3rd. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is currently 82.84%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LYB shares. Citigroup raised their target price on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Barclays raised their target price on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Mizuho raised their target price on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 29th. JPMorgan Chase & Co. lifted their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Finally, Wells Fargo & Company lifted their price objective on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $105.08.

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.