LyondellBasell Industries (NYSE:LYB) Sets New 52-Week Low at $79.40

LyondellBasell Industries (NYSE:LYBGet Rating)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $79.40 and last traded at $79.88, with a volume of 6627 shares trading hands. The stock had previously closed at $80.57.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on LyondellBasell Industries from $120.00 to $95.00 and set a “hold” rating on the stock in a research note on Tuesday, August 2nd. Barclays dropped their price target on LyondellBasell Industries from $110.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 2nd. Jefferies Financial Group dropped their price target on LyondellBasell Industries from $135.00 to $117.00 in a research note on Thursday, June 16th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, September 2nd. Finally, JPMorgan Chase & Co. lowered LyondellBasell Industries from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $115.00 to $80.00 in a report on Friday, September 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $102.85.

LyondellBasell Industries Trading Up 1.2 %

The firm has a market cap of $26.91 billion, a P/E ratio of 5.03, a PEG ratio of 0.59 and a beta of 1.27. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.68 and a quick ratio of 1.01. The stock has a 50 day moving average of $86.79 and a 200 day moving average of $97.50.

LyondellBasell Industries (NYSE:LYBGet Rating) last announced its quarterly earnings data on Friday, July 29th. The specialty chemicals company reported $5.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.91 by $0.28. LyondellBasell Industries had a return on equity of 49.41% and a net margin of 10.19%. The firm had revenue of $14.84 billion for the quarter, compared to analysts’ expectations of $13.70 billion. During the same period last year, the firm earned $6.13 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. As a group, equities research analysts predict that LyondellBasell Industries will post 17.04 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 29th were paid a dividend of $1.19 per share. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date of this dividend was Friday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is 29.01%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LYB. Charles Schwab Investment Management Inc. grew its stake in shares of LyondellBasell Industries by 205.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock worth $458,010,000 after purchasing an additional 2,995,335 shares during the last quarter. Norges Bank bought a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $223,744,000. Franklin Resources Inc. grew its stake in shares of LyondellBasell Industries by 738.8% in the second quarter. Franklin Resources Inc. now owns 2,176,500 shares of the specialty chemicals company’s stock worth $190,356,000 after purchasing an additional 1,917,011 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of LyondellBasell Industries by 96.3% in the second quarter. AQR Capital Management LLC now owns 2,533,980 shares of the specialty chemicals company’s stock worth $219,341,000 after purchasing an additional 1,243,077 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of LyondellBasell Industries in the first quarter worth about $86,336,000. 70.07% of the stock is owned by institutional investors.

LyondellBasell Industries Company Profile

(Get Rating)

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.

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