Retirement Systems of Alabama Has $3.92 Million Stock Position in LyondellBasell Industries N.V. (NYSE:LYB)

Retirement Systems of Alabama trimmed its position in LyondellBasell Industries N.V. (NYSE:LYB) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,699 shares of the specialty chemicals company’s stock after selling 550 shares during the quarter. Retirement Systems of Alabama’s holdings in LyondellBasell Industries were worth $3,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of LyondellBasell Industries in the fourth quarter worth about $3,760,000. M&T Bank Corp boosted its holdings in shares of LyondellBasell Industries by 2.4% in the fourth quarter. M&T Bank Corp now owns 19,741 shares of the specialty chemicals company’s stock worth $1,467,000 after buying an additional 461 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 28.3% in the first quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company’s stock worth $642,000 after buying an additional 2,021 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of LyondellBasell Industries in the first quarter worth about $442,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 214 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Down 1.3%

Shares of LyondellBasell Industries stock opened at $57.55 on Thursday. The firm has a market capitalization of $18.50 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.17 and a beta of 0.82. 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 fifty day moving average price is $57.96 and its two-hundred day moving average price is $67.67. LyondellBasell Industries N.V. has a 52-week low of $51.11 and a 52-week high of $100.46.

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 business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm earned $1.53 EPS. On average, analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 9.52%. The ex-dividend date was Monday, June 2nd. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s payout ratio is currently 169.14%.

Analysts Set New Price Targets

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

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.