LyondellBasell Industries (NYSE:LYB) Shares Acquired by Czech National Bank

Czech National Bank raised its position in LyondellBasell Industries (NYSE:LYB) by 8.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,019 shares of the specialty chemicals company’s stock after buying an additional 3,983 shares during the period. Czech National Bank’s holdings in LyondellBasell Industries were worth $4,689,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. PGGM Investments boosted its holdings in LyondellBasell Industries by 6.9% in the fourth quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock valued at $1,299,000 after purchasing an additional 879 shares during the last quarter. Norden Group LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter valued at approximately $3,686,000. Russell Investments Group Ltd. grew its position in shares of LyondellBasell Industries by 25.1% during the fourth quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after buying an additional 46,871 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of LyondellBasell Industries by 9.3% in the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after buying an additional 18,901 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in 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 valued at $26,512,000 after acquiring an additional 21,809 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. Royal Bank of Canada upped their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Barclays boosted their price target on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Finally, Wells Fargo & Company dropped their price target 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $107.55.

LyondellBasell Industries Price Performance

Shares of NYSE LYB traded down $0.35 during mid-day trading on Monday, reaching $96.51. 192,580 shares of the company traded hands, compared to its average volume of 1,776,476. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02. The firm has a market cap of $31.43 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. The stock has a fifty day simple moving average of $95.71 and a 200-day simple moving average of $98.17. 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 issued its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.44 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 8.3 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a yield of 5.55%. LyondellBasell Industries’s payout ratio is 82.84%.

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.