LyondellBasell Industries (NYSE:LYB) Holdings Lowered by OLD National Bancorp IN

OLD National Bancorp IN trimmed its stake in shares of LyondellBasell Industries (NYSE:LYB) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,734 shares of the specialty chemicals company’s stock after selling 2,167 shares during the period. OLD National Bancorp IN’s holdings in LyondellBasell Industries were worth $8,414,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of LYB. CVA Family Office LLC lifted its stake in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in LyondellBasell Industries in the 1st quarter worth about $27,000. Beacon Capital Management LLC purchased a new stake in LyondellBasell Industries in the 1st quarter worth about $28,000. Blue Trust Inc. lifted its stake in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares in the last quarter. Finally, Matrix Trust Co purchased a new stake in LyondellBasell Industries in the 3rd quarter worth about $30,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

NYSE LYB traded down $0.10 during trading on Friday, hitting $91.49. The company’s stock had a trading volume of 1,669,653 shares, compared to its average volume of 1,826,556. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The firm has a 50 day moving average price of $95.33 and a 200 day moving average price of $97.07. The firm has a market cap of $29.79 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping 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 last year, the firm earned $2.44 EPS. LyondellBasell Industries’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries will post 7.8 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. Investors of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 5.86%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is 82.84%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LYB. Barclays reduced their price objective on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research note on Monday, October 7th. 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 research report on Tuesday, August 6th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group dropped their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada cut their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, October 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price 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.