New York State Teachers Retirement System Sells 14,649 Shares of LyondellBasell Industries (NYSE:LYB)

New York State Teachers Retirement System lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 239,323 shares of the specialty chemicals company’s stock after selling 14,649 shares during the quarter. New York State Teachers Retirement System’s holdings in LyondellBasell Industries were worth $22,951,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CVA Family Office LLC lifted its position in LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares during the last quarter. Chilton Capital Management LLC bought a new position in shares of LyondellBasell Industries during the first quarter worth approximately $27,000. Beacon Capital Management LLC acquired a new stake in LyondellBasell Industries during the 1st quarter worth approximately $28,000. Blue Trust Inc. boosted its stake in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares during the period. Finally, Matrix Trust Co acquired a new position in LyondellBasell Industries in the 3rd quarter valued at $30,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB opened at $86.57 on Friday. The company’s 50 day simple moving average is $93.56 and its 200 day simple moving average is $96.04. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. LyondellBasell Industries has a 1 year low of $85.64 and a 1 year high of $107.02. The stock has a market capitalization of $28.14 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last posted 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. The company 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%. LyondellBasell Industries’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 EPS. As a group, research analysts predict that LyondellBasell Industries will post 7.53 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced 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 yield of 6.19%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is 75.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LYB shares. UBS Group dropped their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft lifted their price target 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, JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, September 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $106.33.

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.