Exchange Traded Concepts LLC Boosts Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Exchange Traded Concepts LLC increased its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 27.1% during the first quarter, Holdings Channel.com reports. The firm owned 1,371 shares of the specialty chemicals company’s stock after acquiring an additional 292 shares during the quarter. Exchange Traded Concepts LLC’s holdings in LyondellBasell Industries were worth $97,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Sound Income Strategies LLC raised its position in LyondellBasell Industries by 3.6% in the 1st quarter. Sound Income Strategies LLC now owns 281,441 shares of the specialty chemicals company’s stock worth $19,813,000 after purchasing an additional 9,815 shares during the period. Ritholtz Wealth Management raised its position in LyondellBasell Industries by 58.3% in the 1st quarter. Ritholtz Wealth Management now owns 8,120 shares of the specialty chemicals company’s stock worth $572,000 after purchasing an additional 2,990 shares during the period. CVA Family Office LLC raised its position in LyondellBasell Industries by 287.5% in the 1st quarter. CVA Family Office LLC now owns 992 shares of the specialty chemicals company’s stock worth $70,000 after purchasing an additional 736 shares during the period. Opinicus Capital Inc. purchased a new position in LyondellBasell Industries in the 1st quarter worth $327,000. Finally, Stanley Laman Group Ltd. raised its position in LyondellBasell Industries by 8.8% in the 1st quarter. Stanley Laman Group Ltd. now owns 34,755 shares of the specialty chemicals company’s stock worth $2,447,000 after purchasing an additional 2,802 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $58.38 on Wednesday. LyondellBasell Industries N.V. has a 1 year low of $51.11 and a 1 year high of $100.46. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.83 and a quick ratio of 1.04. The company’s 50-day moving average is $57.93 and its 200 day moving average is $67.74. The stock has a market capitalization of $18.76 billion, a P/E ratio of 18.02, a P/E/G ratio of 2.13 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. LyondellBasell Industries’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.53 EPS. On average, sell-side analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a $1.37 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a dividend yield of 9.39%. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries’s payout ratio is currently 169.14%.

Analyst Ratings Changes

A number of equities analysts recently commented on LYB shares. UBS Group reiterated a “sell” rating and issued a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Barclays decreased their price objective on shares of LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Royal Bank Of Canada decreased their price objective on shares of LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. BMO Capital Markets decreased their price objective on shares of LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $69.75.

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.