Valley Wealth Managers Inc. Sells 2,465 Shares of LyondellBasell Industries (NYSE:LYB)

Valley Wealth Managers Inc. cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,924 shares of the specialty chemicals company’s stock after selling 2,465 shares during the period. Valley Wealth Managers Inc.’s holdings in LyondellBasell Industries were worth $2,863,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Spire Wealth Management grew its holdings in shares of LyondellBasell Industries by 4.2% during the first quarter. Spire Wealth Management now owns 2,534 shares of the specialty chemicals company’s stock worth $259,000 after purchasing an additional 102 shares during the last quarter. Lantz Financial LLC increased its position in LyondellBasell Industries by 3.6% in the 1st quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock valued at $325,000 after acquiring an additional 109 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in shares of LyondellBasell Industries by 0.9% in the second quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after acquiring an additional 120 shares during the last quarter. RDA Financial Network raised its position in LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of LyondellBasell Industries by 11.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,228 shares of the specialty chemicals company’s stock worth $117,000 after acquiring an additional 125 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYB. JPMorgan Chase & Co. increased their price objective on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. 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 research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft upped their target price 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. Finally, Wells Fargo & Company decreased 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. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $107.55.

LyondellBasell Industries Price Performance

LYB stock opened at $93.86 on Friday. The stock has a 50-day moving average price of $96.17 and a two-hundred day moving average price of $98.24. LyondellBasell Industries has a 1 year low of $88.46 and a 1 year high of $107.02. The stock has a market cap of $30.51 billion, a PE ratio of 14.51, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data 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 the consensus estimate 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 period last year, the company earned $2.44 earnings per share. Equities analysts forecast that LyondellBasell Industries will post 8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

About LyondellBasell Industries

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.