Millburn Ridgefield Corp Takes Position in LyondellBasell Industries (NYSE:LYB)

Millburn Ridgefield Corp purchased a new stake in shares of LyondellBasell Industries (NYSE:LYB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,194 shares of the specialty chemicals company’s stock, valued at approximately $115,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in LyondellBasell Industries by 108.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,209 shares of the specialty chemicals company’s stock valued at $116,000 after buying an additional 629 shares during the last quarter. Mather Group LLC. increased its stake in LyondellBasell Industries by 45.2% during the 2nd quarter. Mather Group LLC. now owns 3,757 shares of the specialty chemicals company’s stock valued at $384,000 after purchasing an additional 1,169 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in LyondellBasell Industries by 24.1% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,018 shares of the specialty chemicals company’s stock worth $384,000 after buying an additional 780 shares during the last quarter. CWM LLC lifted its position in LyondellBasell Industries by 15.0% during the second quarter. CWM LLC now owns 7,335 shares of the specialty chemicals company’s stock valued at $702,000 after purchasing an additional 954 shares during the period. Finally, RDA Financial Network boosted its stake in shares of LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho dropped their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Piper Sandler reduced their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Down 1.5 %

LyondellBasell Industries stock opened at $80.78 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The business’s 50-day simple moving average is $88.34 and its two-hundred day simple moving average is $93.35. LyondellBasell Industries has a fifty-two week low of $80.62 and a fifty-two week high of $107.02. The company has a market cap of $26.23 billion, a PE ratio of 12.30, a PEG ratio of 2.29 and a beta of 1.05.

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

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend is Monday, December 2nd. 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.