Golden State Equity Partners Sells 567 Shares of LyondellBasell Industries (NYSE:LYB)

Golden State Equity Partners trimmed its stake in shares of LyondellBasell Industries (NYSE:LYB) by 12.6% in the third quarter, HoldingsChannel.com reports. The fund owned 3,937 shares of the specialty chemicals company’s stock after selling 567 shares during the quarter. Golden State Equity Partners’ holdings in LyondellBasell Industries were worth $378,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LYB. Capital World Investors raised its holdings in shares of LyondellBasell Industries by 28.9% during the 1st quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after buying an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth $61,327,000. Pacer Advisors Inc. raised its holdings in shares of LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in shares of LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after buying an additional 347,877 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in LyondellBasell Industries in the 2nd quarter worth about $17,683,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 0.0 %

Shares of LYB stock opened at $87.14 on Thursday. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.69 and a beta of 1.07. The stock has a 50-day moving average of $93.98 and a 200-day moving average of $96.20. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. LyondellBasell Industries has a 1-year low of $86.74 and a 1-year high of $107.02.

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 the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that LyondellBasell Industries will post 7.53 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 6.15%. LyondellBasell Industries’s payout ratio is 75.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYB. Barclays lowered their target price on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. UBS Group lowered their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada lowered their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $106.33.

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.