Envestnet Portfolio Solutions Inc. Has $3.78 Million Position in LyondellBasell Industries (NYSE:LYB)

Envestnet Portfolio Solutions Inc. boosted its stake in LyondellBasell Industries (NYSE:LYB) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,500 shares of the specialty chemicals company’s stock after purchasing an additional 838 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in LyondellBasell Industries were worth $3,779,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. McIlrath & Eck LLC boosted its stake in shares of LyondellBasell Industries by 100.7% in the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 141 shares during the last quarter. Heritage Wealth Advisors acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $27,000. Chilton Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at about $27,000. Gold Investment Management Ltd. bought a new stake in LyondellBasell Industries in the fourth quarter worth approximately $28,000. Finally, Beacon Capital Management LLC acquired a new position in LyondellBasell Industries in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on LYB. Deutsche Bank Aktiengesellschaft raised their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. BMO Capital Markets raised their price target 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. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Barclays increased their price target on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $107.55.

LyondellBasell Industries Stock Up 1.7 %

LYB stock traded up $1.68 during midday trading on Thursday, reaching $97.87. 323,591 shares of the company were exchanged, compared to its average volume of 1,761,394. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. LyondellBasell Industries has a 1-year low of $88.46 and a 1-year high of $107.02. The company has a market cap of $31.87 billion, a price-to-earnings ratio of 14.87, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. The stock’s 50-day simple moving average is $95.78 and its 200 day simple moving average is $98.17.

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

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were paid a $1.34 dividend. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a yield of 5.48%. The ex-dividend date was Monday, June 3rd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

LyondellBasell Industries Company 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.