Kentucky Retirement Systems Lowers Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Kentucky Retirement Systems lessened its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 5.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,438 shares of the specialty chemicals company’s stock after selling 1,064 shares during the quarter. Kentucky Retirement Systems’ holdings in LyondellBasell Industries were worth $1,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. McIlrath & Eck LLC lifted its position in LyondellBasell Industries by 100.7% during the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 141 shares in the last quarter. Heritage Wealth Advisors acquired a new stake in shares of LyondellBasell Industries during the fourth quarter valued at about $27,000. Chilton Capital Management LLC purchased a new stake in shares of LyondellBasell Industries during the first quarter worth about $27,000. Gold Investment Management Ltd. purchased a new stake in shares of LyondellBasell Industries during the fourth quarter worth about $28,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of LyondellBasell Industries by 410.2% in the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 242 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded up $0.22 during trading hours on Monday, hitting $97.48. The stock had a trading volume of 283,528 shares, compared to its average volume of 1,779,121. The stock’s fifty day simple moving average is $96.15 and its 200 day simple moving average is $98.00. The firm has a market capitalization of $31.74 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.20 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 1-year low of $88.46 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. During the same period last year, the firm posted $2.50 earnings per share. The business’s revenue was down 3.1% on a year-over-year basis. Sell-side analysts anticipate that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a dividend of $1.34 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Monday, June 3rd. LyondellBasell Industries’s payout ratio is presently 82.84%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Citigroup increased their target price on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their target price on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Mizuho upped their price objective on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Finally, Barclays increased their target price on LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $105.17.

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.