QRG Capital Management Inc. Increases Stock Position in LyondellBasell Industries (NYSE:LYB)

QRG Capital Management Inc. raised its stake in shares of LyondellBasell Industries (NYSE:LYB) by 3.7% during the third quarter, HoldingsChannel reports. The firm owned 83,812 shares of the specialty chemicals company’s stock after purchasing an additional 2,963 shares during the quarter. QRG Capital Management Inc.’s holdings in LyondellBasell Industries were worth $8,038,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. CVA Family Office LLC lifted its holdings in LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares in the last quarter. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries in the first quarter valued at approximately $27,000. Beacon Capital Management LLC acquired a new position in LyondellBasell Industries during the 1st quarter worth approximately $28,000. Matrix Trust Co acquired a new position in LyondellBasell Industries during the 3rd quarter worth approximately $30,000. Finally, Blue Trust Inc. boosted its holdings in shares of LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LYB. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays reduced their target price 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. Finally, Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $101.11.

LyondellBasell Industries Stock Down 2.7 %

Shares of LyondellBasell Industries stock opened at $84.19 on Tuesday. The stock’s 50-day moving average is $93.28 and its 200 day moving average is $95.88. The firm has a market cap of $27.37 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. LyondellBasell Industries has a one year low of $84.04 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.03 by ($0.15). The company had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 7.53 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.37%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 81.58%.

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.