Versant Capital Management Inc Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Versant Capital Management Inc raised its position in LyondellBasell Industries (NYSE:LYB) by 13,480.0% during the second quarter, Holdings Channel.com reports. The fund owned 679 shares of the specialty chemicals company’s stock after purchasing an additional 674 shares during the quarter. Versant Capital Management Inc’s holdings in LyondellBasell Industries were worth $65,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of LYB. Capital World Investors bought a new stake in shares of LyondellBasell Industries during the 4th quarter valued at about $197,305,000. Norges Bank bought a new stake in shares of LyondellBasell Industries during the 4th quarter valued at about $82,854,000. Ilex Capital Partners UK LLP bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at about $61,327,000. Allianz Asset Management GmbH boosted its stake in shares of LyondellBasell Industries by 826.1% during the 4th quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock valued at $38,911,000 after purchasing an additional 365,050 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of LyondellBasell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after purchasing an additional 290,401 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 3.2 %

Shares of NYSE LYB traded up $2.96 during midday trading on Tuesday, hitting $95.52. The stock had a trading volume of 2,528,509 shares, compared to its average volume of 1,792,086. The business’s 50 day moving average is $95.88 and its 200-day moving average is $98.12. The company has a market cap of $31.10 billion, a P/E ratio of 14.96, a PEG ratio of 1.21 and a beta of 1.09. LyondellBasell Industries has a 52 week low of $88.46 and a 52 week high of $107.02. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.01. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.44 earnings per share. As a group, analysts predict that LyondellBasell Industries will post 8.3 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 5.61%. This is a boost 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%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LYB. Barclays lifted their target price on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. BMO Capital Markets boosted their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. UBS Group dropped their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Mizuho boosted their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Finally, Citigroup boosted their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $105.67.

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.