Sumitomo Mitsui Trust Holdings Inc. Raises Position in LyondellBasell Industries (NYSE:LYB)

Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 736,049 shares of the specialty chemicals company’s stock after acquiring an additional 63,514 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of LyondellBasell Industries worth $70,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Chilton Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter worth $27,000. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter valued at $28,000. McIlrath & Eck LLC lifted its stake in shares of LyondellBasell Industries by 100.7% during the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 141 shares in the last quarter. Heritage Wealth Advisors purchased a new position in shares of LyondellBasell Industries during the 4th quarter valued at $27,000. Finally, Gold Investment Management Ltd. purchased a new position in shares of LyondellBasell Industries during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded down $0.37 during trading hours on Friday, reaching $97.07. The company’s stock had a trading volume of 3,472,401 shares, compared to its average volume of 1,776,973. The firm has a 50 day moving average price of $95.84 and a 200-day moving average price of $98.20. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The stock has a market cap of $31.61 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.21 and a beta of 1.09.

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

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be paid a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.52%. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LYB. Mizuho lifted their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. BMO Capital Markets lifted their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, April 30th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada lifted 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. Finally, Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.55.

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.