Quarry LP Boosts Stake in LyondellBasell Industries (NYSE:LYB)

Quarry LP raised its position in LyondellBasell Industries (NYSE:LYB) by 9.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 18,901 shares of the specialty chemicals company’s stock after purchasing an additional 1,577 shares during the period. Quarry LP’s holdings in LyondellBasell Industries were worth $1,813,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYB. HighTower Advisors LLC increased its stake in shares of LyondellBasell Industries by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after purchasing an additional 159,803 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock worth $29,489,000 after purchasing an additional 18,311 shares during the last quarter. PGGM Investments increased its stake in shares of LyondellBasell Industries by 47.9% during the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after purchasing an additional 7,168 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of LyondellBasell Industries during the 3rd quarter worth approximately $6,371,000. Finally, Captrust Financial Advisors increased its stake in shares of LyondellBasell Industries by 4.7% during the 3rd quarter. Captrust Financial Advisors now owns 135,346 shares of the specialty chemicals company’s stock worth $12,980,000 after purchasing an additional 6,074 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 3.5 %

Shares of NYSE:LYB opened at $77.96 on Thursday. The firm has a fifty day moving average price of $88.00 and a two-hundred day moving average price of $93.24. 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 $77.38 and a one year high of $107.02. The company has a market cap of $25.32 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 2.26 and a beta of 1.05.

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

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LYB. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. One equities research 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 MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $101.70.

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.