Concord Wealth Partners Raises Stake in LyondellBasell Industries (NYSE:LYB)

Concord Wealth Partners grew its stake in LyondellBasell Industries (NYSE:LYB) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,790 shares of the specialty chemicals company’s stock after buying an additional 194 shares during the quarter. Concord Wealth Partners’ holdings in LyondellBasell Industries were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC purchased a new stake in LyondellBasell Industries during the 1st quarter worth approximately $325,000. Founders Financial Securities LLC acquired a new position in LyondellBasell Industries during the 1st quarter worth about $371,000. LVW Advisors LLC grew its holdings in shares of LyondellBasell Industries by 60.4% in the first quarter. LVW Advisors LLC now owns 7,667 shares of the specialty chemicals company’s stock valued at $784,000 after purchasing an additional 2,888 shares in the last quarter. Aviance Capital Partners LLC grew its stake in LyondellBasell Industries by 1.4% during the 1st quarter. Aviance Capital Partners LLC now owns 13,126 shares of the specialty chemicals company’s stock worth $1,343,000 after purchasing an additional 179 shares in the last quarter. Finally, Denali Advisors LLC increased its stake in shares of LyondellBasell Industries by 2.5% during the first quarter. Denali Advisors LLC now owns 8,341 shares of the specialty chemicals company’s stock worth $853,000 after buying an additional 203 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LYB shares. Barclays decreased their price objective on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. JPMorgan Chase & Co. dropped 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 report on Friday, September 13th. Royal Bank of Canada decreased their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Wells Fargo & Company decreased their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $106.33.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock traded down $0.05 during trading hours on Monday, reaching $87.45. The company’s stock had a trading volume of 342,756 shares, compared to its average volume of 1,818,739. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. The stock has a market cap of $28.48 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. LyondellBasell Industries has a one year low of $86.87 and a one year high of $107.02. The company’s 50 day simple moving average is $94.55 and its 200 day simple moving average is $96.47.

LyondellBasell Industries (NYSE:LYB) last posted 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. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.44 earnings per share. As a group, analysts expect that LyondellBasell Industries will post 7.53 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.13%. LyondellBasell Industries’s dividend payout ratio (DPR) 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.