Denali Advisors LLC Trims Holdings in LyondellBasell Industries (NYSE:LYB)

Denali Advisors LLC decreased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 4.8% during the second quarter, HoldingsChannel.com reports. The firm owned 7,941 shares of the specialty chemicals company’s stock after selling 400 shares during the period. Denali Advisors LLC’s holdings in LyondellBasell Industries were worth $760,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Capital World Investors bought a new position in shares of LyondellBasell Industries in the fourth quarter valued at approximately $197,305,000. Norges Bank purchased a new stake in LyondellBasell Industries in the 4th quarter worth approximately $82,854,000. Ilex Capital Partners UK LLP bought a new position in LyondellBasell Industries in the 1st quarter valued at $61,327,000. Allianz Asset Management GmbH grew its position in shares of LyondellBasell Industries by 826.1% during the 4th quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock valued at $38,911,000 after purchasing an additional 365,050 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of LyondellBasell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after purchasing an additional 290,401 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LYB shares. Deutsche Bank Aktiengesellschaft lifted their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. UBS Group cut their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Finally, Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $107.27.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $94.99 on Wednesday. The company has a 50-day simple moving average of $96.19 and a two-hundred day simple moving average of $98.12. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The firm has a market cap of $30.93 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.28 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.01. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $2.44 EPS. On average, equities analysts forecast that LyondellBasell Industries will post 8 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced 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 dividend yield of 5.64%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 82.84%.

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.