Mirae Asset Global Investments Co. Ltd. Purchases 22,929 Shares of LyondellBasell Industries (NYSE:LYB)

Mirae Asset Global Investments Co. Ltd. boosted its position in shares of LyondellBasell Industries (NYSE:LYB) by 14.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,712 shares of the specialty chemicals company’s stock after buying an additional 22,929 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of LyondellBasell Industries worth $17,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Rockland Trust Co. increased its stake in shares of LyondellBasell Industries by 0.9% in the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after acquiring an additional 112 shares in the last quarter. Petredis Investment Advisors LLC lifted its holdings in LyondellBasell Industries by 0.5% during the third quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock valued at $2,215,000 after purchasing an additional 116 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in LyondellBasell Industries by 0.9% during the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock valued at $1,330,000 after purchasing an additional 120 shares in the last quarter. RDA Financial Network lifted its holdings in shares of LyondellBasell Industries by 3.9% in the second quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after buying an additional 122 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of LyondellBasell Industries by 25.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 122 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

LYB stock opened at $87.50 on Friday. The business has a 50 day moving average price of $94.55 and a 200 day moving average price of $96.52. The stock has a market cap of $28.49 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.69 and a beta of 1.07. LyondellBasell Industries has a fifty-two week low of $87.41 and a fifty-two week high of $107.02. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.

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, topping the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts anticipate that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.13%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LYB. Deutsche Bank Aktiengesellschaft upped their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research note 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. Wells Fargo & Company cut their price target 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. UBS Group lowered their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $106.33.

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.