Thrive Wealth Management LLC Cuts Holdings in LyondellBasell Industries (NYSE:LYB)

Thrive Wealth Management LLC lessened its position in shares of LyondellBasell Industries (NYSE:LYB) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,111 shares of the specialty chemicals company’s stock after selling 424 shares during the period. Thrive Wealth Management LLC’s holdings in LyondellBasell Industries were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors L.P. increased its holdings in LyondellBasell Industries by 0.8% in the 3rd quarter. Natixis Advisors L.P. now owns 101,634 shares of the specialty chemicals company’s stock valued at $9,625,000 after purchasing an additional 826 shares in the last quarter. Mutual Advisors LLC lifted its position in LyondellBasell Industries by 0.8% during the 3rd quarter. Mutual Advisors LLC now owns 14,386 shares of the specialty chemicals company’s stock worth $1,362,000 after acquiring an additional 111 shares in the last quarter. Valley National Advisers Inc. acquired a new position in LyondellBasell Industries during the 3rd quarter worth approximately $25,000. Trexquant Investment LP boosted its holdings in LyondellBasell Industries by 6.8% in the 3rd quarter. Trexquant Investment LP now owns 65,661 shares of the specialty chemicals company’s stock worth $6,218,000 after acquiring an additional 4,202 shares during the period. Finally, Treasurer of the State of North Carolina grew its position in LyondellBasell Industries by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 117,294 shares of the specialty chemicals company’s stock valued at $11,108,000 after acquiring an additional 595 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded up $0.05 during trading on Thursday, hitting $95.83. 2,196,496 shares of the company traded hands, compared to its average volume of 1,859,088. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The business’s fifty day moving average is $98.32 and its 200-day moving average is $97.95. The stock has a market capitalization of $31.20 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.18 and a beta of 1.13. LyondellBasell Industries has a one year low of $87.91 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.70 billion. During the same period in the prior year, the business earned $2.50 EPS. The firm’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 5.59%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date was Monday, June 3rd. LyondellBasell Industries’s payout ratio is presently 82.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Monday, April 29th. Wells Fargo & Company boosted their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. BMO Capital Markets raised their price objective on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. Wolfe Research assumed coverage on LyondellBasell Industries in a research report on Friday, March 1st. They issued an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.08.

About LyondellBasell Industries

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.