Sterling Investment Counsel LLC Lowers Stake in LyondellBasell Industries (NYSE:LYB)

Sterling Investment Counsel LLC lessened its stake in LyondellBasell Industries (NYSE:LYB) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,491 shares of the specialty chemicals company’s stock after selling 115 shares during the quarter. Sterling Investment Counsel LLC’s holdings in LyondellBasell Industries were worth $239,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Pacer Advisors Inc. raised its stake in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares in 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 raised its stake 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 in the last quarter. Envestnet Asset Management Inc. raised its stake in LyondellBasell Industries by 0.6% during the second quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after purchasing an additional 6,760 shares in the last quarter. Finally, Raymond James & Associates raised its stake in LyondellBasell Industries by 0.4% during the third quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock valued at $87,512,000 after purchasing an additional 3,394 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

LYB has been the topic of a number of analyst reports. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Royal Bank of Canada cut their price target on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. UBS Group cut their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Finally, Wells Fargo & Company dropped their target price 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, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $106.33.

LyondellBasell Industries Stock Down 0.9 %

Shares of LYB stock traded down $0.80 during mid-day trading on Wednesday, hitting $88.71. 312,678 shares of the stock traded hands, compared to its average volume of 1,818,150. The stock has a market cap of $28.89 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.32 and a beta of 1.07. The stock’s fifty day moving average is $95.07 and its two-hundred day moving average is $96.80. LyondellBasell Industries has a 52-week low of $88.46 and a 52-week 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 released 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. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. Equities analysts predict that LyondellBasell Industries will post 7.8 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is currently 82.84%.

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.