Intact Investment Management Inc. Boosts Holdings in LyondellBasell Industries (NYSE:LYB)

Intact Investment Management Inc. increased its holdings in LyondellBasell Industries (NYSE:LYB) by 15.6% in the third quarter, Holdings Channel.com reports. The firm owned 64,050 shares of the specialty chemicals company’s stock after acquiring an additional 8,650 shares during the period. Intact Investment Management Inc.’s holdings in LyondellBasell Industries were worth $6,142,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its holdings in shares of LyondellBasell Industries by 8.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after buying an additional 21,809 shares during the period. Banco Santander S.A. purchased a new position in LyondellBasell Industries during the 1st quarter valued at about $3,607,000. Foresight Capital Management Advisors Inc. purchased a new position in LyondellBasell Industries during the 2nd quarter valued at about $1,416,000. PGGM Investments grew its position in shares of LyondellBasell Industries by 47.9% in the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after buying an additional 7,168 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

LYB stock opened at $86.66 on Monday. The stock’s 50 day simple moving average is $93.56 and its 200 day simple moving average is $95.99. 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 12-month low of $85.64 and a 12-month high of $107.02. The stock has a market capitalization of $28.17 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 1.64 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.03 by ($0.15). LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the company earned $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, research analysts forecast that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.19%. LyondellBasell Industries’s dividend payout ratio is presently 75.39%.

Analysts Set New Price Targets

Several research firms recently weighed in on LYB. Royal Bank of Canada cut their price target on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Barclays decreased their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, 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 research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $105.89.

LyondellBasell Industries Company 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.