Verdence Capital Advisors LLC Boosts Holdings in LyondellBasell Industries (NYSE:LYB)

Verdence Capital Advisors LLC increased its holdings in LyondellBasell Industries (NYSE:LYB) by 5.8% in the third quarter, Holdings Channel.com reports. The firm owned 14,707 shares of the specialty chemicals company’s stock after acquiring an additional 802 shares during the period. Verdence Capital Advisors LLC’s holdings in LyondellBasell Industries were worth $1,410,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors boosted its position in 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. Ilex Capital Partners UK LLP purchased a new stake in LyondellBasell Industries during the 1st quarter valued at about $61,327,000. Pacer Advisors Inc. boosted its holdings in 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 valued at $461,930,000 after acquiring an additional 579,300 shares during the period. Ensign Peak Advisors Inc grew its position in 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 acquiring an additional 347,877 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in LyondellBasell Industries in the 2nd quarter worth approximately $17,683,000. Institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Barclays decreased their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Piper Sandler dropped their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada cut their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company lowered their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $85.30 on Friday. The business’s fifty day moving average is $92.32 and its 200 day moving average is $95.54. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 2.39 and a beta of 1.08. LyondellBasell Industries has a twelve month low of $83.36 and a twelve month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.46 EPS. Research analysts expect that LyondellBasell Industries will post 7.16 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.28%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

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.