Highland Capital Management LLC Has $4.05 Million Position in LyondellBasell Industries (NYSE:LYB)

Highland Capital Management LLC reduced its holdings in LyondellBasell Industries (NYSE:LYBGet Rating) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,315 shares of the specialty chemicals company’s stock after selling 210 shares during the quarter. Highland Capital Management LLC’s holdings in LyondellBasell Industries were worth $4,051,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYB. Vanguard Group Inc. grew its position in LyondellBasell Industries by 1.1% during the first quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after buying an additional 335,124 shares in the last quarter. State Street Corp grew its position in LyondellBasell Industries by 2.9% during the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after buying an additional 348,169 shares in the last quarter. Wellington Management Group LLP lifted its stake in LyondellBasell Industries by 2.6% during the first quarter. Wellington Management Group LLP now owns 10,570,084 shares of the specialty chemicals company’s stock worth $1,086,816,000 after purchasing an additional 272,372 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in LyondellBasell Industries by 205.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock worth $458,010,000 after purchasing an additional 2,995,335 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in LyondellBasell Industries by 5.8% during the first quarter. Dimensional Fund Advisors LP now owns 3,912,982 shares of the specialty chemicals company’s stock worth $402,422,000 after purchasing an additional 214,468 shares during the period. 70.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LYB. Alembic Global Advisors cut shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $120.00 to $115.00 in a research note on Tuesday, May 31st. Bank of America cut their price target on shares of LyondellBasell Industries from $109.00 to $100.00 and set an “underperform” rating for the company in a research note on Tuesday, June 14th. Jefferies Financial Group cut their target price on shares of LyondellBasell Industries from $135.00 to $117.00 in a research note on Thursday, June 16th. KeyCorp cut shares of LyondellBasell Industries from a “sector weight” rating to an “underweight” rating and set a $73.00 target price for the company. in a research note on Monday, August 29th. Finally, JPMorgan Chase & Co. cut shares of LyondellBasell Industries from an “overweight” rating to a “neutral” rating and cut their target price for the company from $115.00 to $80.00 in a research note on Friday, September 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.45.

LyondellBasell Industries Price Performance

LYB opened at $75.11 on Friday. The company has a fifty day moving average price of $85.35 and a two-hundred day moving average price of $96.26. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.01 and a current ratio of 1.68. LyondellBasell Industries has a 52 week low of $75.08 and a 52 week high of $117.22. The firm has a market capitalization of $24.50 billion, a PE ratio of 4.58, a P/E/G ratio of 0.60 and a beta of 1.27.

LyondellBasell Industries (NYSE:LYBGet Rating) last released its earnings results on Friday, July 29th. The specialty chemicals company reported $5.19 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.22. LyondellBasell Industries had a net margin of 10.19% and a return on equity of 49.41%. The firm had revenue of $14.84 billion during the quarter, compared to analyst estimates of $13.70 billion. During the same quarter in the previous year, the business earned $6.13 EPS. The business’s quarterly revenue was up 28.3% compared to the same quarter last year. As a group, analysts anticipate that LyondellBasell Industries will post 15.65 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 29th were given a $1.19 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.13. This represents a $4.76 annualized dividend and a yield of 6.34%. The ex-dividend date was Friday, August 26th. LyondellBasell Industries’s payout ratio is currently 29.01%.

About LyondellBasell Industries

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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.

Further Reading

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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