Hohimer Wealth Management LLC Raises Stake in LyondellBasell Industries (NYSE:LYB)

Hohimer Wealth Management LLC increased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 5.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 29,680 shares of the specialty chemicals company’s stock after buying an additional 1,456 shares during the quarter. Hohimer Wealth Management LLC’s holdings in LyondellBasell Industries were worth $2,839,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Heritage Wealth Advisors purchased a new stake in shares of LyondellBasell Industries during the 4th quarter worth approximately $27,000. Chilton Capital Management LLC purchased a new stake in LyondellBasell Industries in the first quarter worth $27,000. Gold Investment Management Ltd. bought a new stake in shares of LyondellBasell Industries in the fourth quarter valued at $28,000. Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter valued at $28,000. Finally, Blue Trust Inc. grew its stake in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares during the period. Institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on LYB shares. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. JPMorgan Chase & Co. increased their target price on LyondellBasell Industries from $110.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. UBS Group decreased their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $107.55.

LyondellBasell Industries Price Performance

LYB traded down $0.78 during trading on Thursday, reaching $94.09. The stock had a trading volume of 215,638 shares, compared to its average volume of 1,761,679. The business has a 50-day moving average of $96.32 and a 200-day moving average of $98.40. 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 0.82, a quick ratio of 1.28 and a current ratio of 2.10. The stock has a market cap of $30.64 billion, a PE ratio of 14.60, a PEG ratio of 1.33 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) 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 return on equity of 18.63% and a net margin of 5.68%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.44 EPS. As a group, equities research analysts anticipate that LyondellBasell Industries will post 8.11 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend was Monday, August 26th. 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.