First County Bank CT Sells 2,391 Shares of LyondellBasell Industries (NYSE:LYB)

First County Bank CT decreased its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 23.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,805 shares of the specialty chemicals company’s stock after selling 2,391 shares during the period. First County Bank CT’s holdings in LyondellBasell Industries were worth $748,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of LYB. Capital World Investors raised its holdings in LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after buying an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at approximately $61,327,000. Pacer Advisors Inc. lifted its holdings in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the period. Finally, Ensign Peak Advisors Inc grew its holdings in LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after purchasing an additional 347,877 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

LYB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday. Wells Fargo & Company cut their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. reduced their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Trading Up 0.5 %

LYB opened at $82.86 on Friday. LyondellBasell Industries has a 1-year low of $81.45 and a 1-year high of $107.02. The firm has a 50-day moving average price of $90.22 and a two-hundred day moving average price of $94.47. The stock has a market capitalization of $26.91 billion, a PE ratio of 12.61, a PEG ratio of 2.30 and a beta of 1.08. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.47%. LyondellBasell Industries’s payout ratio is 81.58%.

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.