Canada Pension Plan Investment Board Has $42.76 Million Holdings in LyondellBasell Industries (NYSE:LYB)

Canada Pension Plan Investment Board lessened its position in LyondellBasell Industries (NYSE:LYB) by 27.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 418,054 shares of the specialty chemicals company’s stock after selling 155,834 shares during the period. Canada Pension Plan Investment Board owned approximately 0.13% of LyondellBasell Industries worth $42,759,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. PGGM Investments grew its stake in LyondellBasell Industries by 6.9% in the fourth quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock valued at $1,299,000 after acquiring an additional 879 shares during the period. International Assets Investment Management LLC purchased a new position in shares of LyondellBasell Industries during the fourth quarter valued at approximately $14,000,000. Arvest Investments Inc. purchased a new position in shares of LyondellBasell Industries during the fourth quarter valued at approximately $2,001,000. Oak Thistle LLC purchased a new position in shares of LyondellBasell Industries during the fourth quarter valued at approximately $1,426,000. Finally, Norden Group LLC purchased a new position in shares of LyondellBasell Industries during the first quarter valued at approximately $3,686,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on LYB shares. UBS Group cut their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. BMO Capital Markets lifted their price target on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a report on Tuesday, April 30th. Wells Fargo & Company lifted their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Mizuho lifted their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Finally, Barclays lifted their price target on LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $105.17.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $97.26 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The firm has a market cap of $31.67 billion, a PE ratio of 15.03, a PEG ratio of 1.20 and a beta of 1.09. The stock’s fifty day moving average price is $96.15 and its two-hundred day moving average price is $97.97.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same period in the previous year, the company posted $2.50 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts forecast that LyondellBasell Industries will post 8.3 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is 82.84%.

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.