Wahed Invest LLC Buys 662 Shares of LyondellBasell Industries (NYSE:LYB)

Wahed Invest LLC boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 11.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,320 shares of the specialty chemicals company’s stock after buying an additional 662 shares during the period. Wahed Invest LLC’s holdings in LyondellBasell Industries were worth $606,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new position in shares of LyondellBasell Industries in the third quarter worth about $7,537,000. State Street Corp increased its holdings in shares of LyondellBasell Industries by 1.9% in the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after buying an additional 230,327 shares during the period. Stevens Capital Management LP increased its holdings in shares of LyondellBasell Industries by 89.3% in the third quarter. Stevens Capital Management LP now owns 6,454 shares of the specialty chemicals company’s stock worth $619,000 after buying an additional 3,045 shares during the period. Quantinno Capital Management LP increased its holdings in shares of LyondellBasell Industries by 23.1% in the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock worth $5,936,000 after buying an additional 11,610 shares during the period. Finally, Quarry LP increased its holdings in LyondellBasell Industries by 9.1% during the 3rd quarter. Quarry LP now owns 18,901 shares of the specialty chemicals company’s stock valued at $1,813,000 after purchasing an additional 1,577 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $76.39 on Friday. The firm has a 50 day simple moving average of $87.63 and a 200-day simple moving average of $93.13. LyondellBasell Industries has a 1-year low of $75.98 and a 1-year high of $107.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The stock has a market cap of $24.81 billion, a price-to-earnings ratio of 11.63, a price-to-earnings-growth ratio of 2.18 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last announced 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 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 posted $2.46 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, analysts expect that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business 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 dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

Wall Street Analysts Forecast Growth

LYB has been the subject of several research reports. Piper Sandler decreased their target price on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Mizuho cut their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada lowered their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.70.

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.