tru Independence LLC Trims Stock Holdings in LyondellBasell Industries (NYSE:LYB)

tru Independence LLC cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 52,051 shares of the specialty chemicals company’s stock after selling 1,517 shares during the quarter. LyondellBasell Industries makes up approximately 1.6% of tru Independence LLC’s holdings, making the stock its 29th largest holding. tru Independence LLC’s holdings in LyondellBasell Industries were worth $5,324,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LYB. Qube Research & Technologies Ltd acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at approximately $9,749,000. Tower Research Capital LLC TRC raised its holdings in shares of LyondellBasell Industries by 29.0% during the third quarter. Tower Research Capital LLC TRC now owns 10,090 shares of the specialty chemicals company’s stock worth $956,000 after purchasing an additional 2,267 shares during the period. Toronto Dominion Bank bought a new position in shares of LyondellBasell Industries in the 3rd quarter worth about $11,853,000. Truist Financial Corp boosted its holdings in shares of LyondellBasell Industries by 7.5% in the 3rd quarter. Truist Financial Corp now owns 253,360 shares of the specialty chemicals company’s stock valued at $23,993,000 after buying an additional 17,581 shares during the period. Finally, Wahed Invest LLC grew its position in shares of LyondellBasell Industries by 8.6% during the 3rd quarter. Wahed Invest LLC now owns 4,055 shares of the specialty chemicals company’s stock valued at $384,000 after buying an additional 321 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded up $0.07 during trading hours on Tuesday, hitting $94.71. 234,223 shares of the company’s stock traded hands, compared to its average volume of 1,852,874. The company’s fifty day simple moving average is $98.15 and its two-hundred day simple moving average is $98.03. The company has a market cap of $30.84 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.09. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. LyondellBasell Industries has a 52 week low of $87.91 and a 52 week high of $107.02.

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

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were given a dividend of $1.34 per share. 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. This represents a $5.36 dividend on an annualized basis and a yield of 5.66%. LyondellBasell Industries’s payout ratio is presently 82.84%.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, April 30th. Citigroup boosted their price objective on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Mizuho increased their target price on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. BMO Capital Markets boosted their price target on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.08.

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.