SteelPeak Wealth LLC Buys Shares of 9,963 LyondellBasell Industries (NYSE:LYB)

SteelPeak Wealth LLC purchased a new stake in shares of LyondellBasell Industries (NYSE:LYB) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 9,963 shares of the specialty chemicals company’s stock, valued at approximately $953,000.

Other institutional investors have also made changes to their positions in the company. Spire Wealth Management boosted its holdings in LyondellBasell Industries by 4.2% during the 1st quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock valued at $259,000 after acquiring an additional 102 shares during the period. Lantz Financial LLC boosted its stake in shares of LyondellBasell Industries by 3.6% in the first quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock valued at $325,000 after purchasing an additional 109 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of LyondellBasell Industries by 1.2% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 9,567 shares of the specialty chemicals company’s stock valued at $910,000 after purchasing an additional 114 shares in the last quarter. Metis Global Partners LLC lifted its holdings in LyondellBasell Industries by 0.9% during the 4th quarter. Metis Global Partners LLC now owns 13,264 shares of the specialty chemicals company’s stock worth $1,261,000 after buying an additional 115 shares in the last quarter. Finally, RDA Financial Network lifted its holdings in LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 122 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LYB. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Barclays lifted their price objective on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Royal Bank of Canada upped their target price on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Mizuho boosted their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $107.55.

LyondellBasell Industries Stock Performance

Shares of LYB stock traded up $1.25 during trading hours on Thursday, hitting $97.44. The stock had a trading volume of 1,069,453 shares, compared to its average volume of 1,766,175. The stock’s 50 day moving average is $95.78 and its 200 day moving average is $98.17. The firm has a market capitalization of $31.73 billion, a PE ratio of 15.06, a PEG ratio of 1.21 and a beta of 1.09. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

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

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.