First Trust Direct Indexing L.P. Sells 273 Shares of LyondellBasell Industries (NYSE:LYB)

First Trust Direct Indexing L.P. reduced its position in shares of LyondellBasell Industries (NYSE:LYB) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,509 shares of the specialty chemicals company’s stock after selling 273 shares during the period. First Trust Direct Indexing L.P.’s holdings in LyondellBasell Industries were worth $816,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of LyondellBasell Industries by 8.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after buying an additional 21,809 shares during the period. Banco Santander S.A. bought a new stake in shares of LyondellBasell Industries during the 1st quarter worth $3,607,000. Foresight Capital Management Advisors Inc. bought a new stake in shares of LyondellBasell Industries during the 2nd quarter worth $1,416,000. PGGM Investments boosted its holdings in LyondellBasell Industries by 47.9% in the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after purchasing an additional 7,168 shares during the period. Finally, Capital World Investors boosted its holdings in LyondellBasell Industries by 28.9% in the 1st 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 period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Trading Down 0.3 %

Shares of LyondellBasell Industries stock opened at $86.57 on Friday. The stock has a market capitalization of $28.14 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The company has a 50-day simple moving average of $93.56 and a 200 day simple moving average of $96.04. LyondellBasell Industries has a 12-month low of $85.64 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The business had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $2.44 EPS. Research analysts expect that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company 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. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 75.39%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. UBS Group reduced their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Finally, Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. One equities 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $106.33.

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.