SPC Financial Inc. Increases Stock Position in LyondellBasell Industries (NYSE:LYB)

SPC Financial Inc. lifted its position in LyondellBasell Industries (NYSE:LYB) by 8.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,723 shares of the specialty chemicals company’s stock after purchasing an additional 516 shares during the quarter. SPC Financial Inc.’s holdings in LyondellBasell Industries were worth $645,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. increased its stake in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after acquiring an additional 579,300 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in LyondellBasell Industries by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after purchasing an additional 170,464 shares in the last quarter. Capital World Investors lifted its position in LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after buying an additional 6,760 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of LyondellBasell Industries by 5.7% during the 2nd quarter. Raymond James & Associates now owns 909,144 shares of the specialty chemicals company’s stock valued at $86,969,000 after buying an additional 49,190 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $91.55 on Friday. The stock has a market cap of $29.81 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07. The firm has a 50-day moving average of $95.44 and a two-hundred day moving average of $97.20. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. 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 (NYSE:LYB) last announced its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The firm had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. LyondellBasell Industries’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 7.8 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 5.85%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Analyst Ratings Changes

Several research analysts recently commented on LYB shares. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group cut their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada cut their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.40.

LyondellBasell Industries 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.