Sound Income Strategies LLC Has $24.10 Million Stake in LyondellBasell Industries (NYSE:LYB)

Sound Income Strategies LLC boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 251,316 shares of the specialty chemicals company’s stock after buying an additional 12,568 shares during the quarter. LyondellBasell Industries comprises 1.6% of Sound Income Strategies LLC’s portfolio, making the stock its 16th biggest holding. Sound Income Strategies LLC owned 0.08% of LyondellBasell Industries worth $24,101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its stake in shares of LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares in the last quarter. Exchange Traded Concepts LLC increased its position in LyondellBasell Industries by 1,171.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,132 shares of the specialty chemicals company’s stock valued at $109,000 after acquiring an additional 1,043 shares in the last quarter. Inspire Investing LLC raised its position in LyondellBasell Industries by 7.8% in the 3rd quarter. Inspire Investing LLC now owns 4,024 shares of the specialty chemicals company’s stock worth $386,000 after purchasing an additional 290 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of LyondellBasell Industries by 57.1% during the third quarter. Ritholtz Wealth Management now owns 4,002 shares of the specialty chemicals company’s stock valued at $384,000 after acquiring an additional 1,454 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in shares of LyondellBasell Industries by 5.6% during the 3rd quarter. Valeo Financial Advisors LLC now owns 5,939 shares of the specialty chemicals company’s stock worth $570,000 after buying an additional 316 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

NYSE LYB traded down $0.87 on Friday, hitting $93.79. 1,766,620 shares of the stock traded hands, compared to its average volume of 1,825,915. The business’s fifty day moving average is $95.64 and its two-hundred day moving average is $97.45. LyondellBasell Industries has a 12 month low of $88.46 and a 12 month high of $107.02. The firm has a market capitalization of $30.49 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period last year, the firm earned $2.44 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that LyondellBasell Industries will post 7.8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were given a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 5.71%. LyondellBasell Industries’s payout ratio is currently 75.39%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LYB shares. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. Barclays cut their price target on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $106.40.

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.