Concurrent Investment Advisors LLC Purchases 3,900 Shares of LyondellBasell Industries (NYSE:LYB)

Concurrent Investment Advisors LLC lifted its stake in LyondellBasell Industries (NYSE:LYB) by 20.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,824 shares of the specialty chemicals company’s stock after purchasing an additional 3,900 shares during the period. Concurrent Investment Advisors LLC’s holdings in LyondellBasell Industries were worth $2,189,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its position 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 valued at $26,512,000 after acquiring an additional 21,809 shares during the last quarter. Banco Santander S.A. acquired a new position in LyondellBasell Industries in the first quarter valued at about $3,607,000. Foresight Capital Management Advisors Inc. bought a new position in LyondellBasell Industries during the second quarter worth about $1,416,000. PGGM Investments grew its position in shares of LyondellBasell Industries by 47.9% during the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after buying an additional 7,168 shares during the period. Finally, Capital World Investors increased its stake in shares of 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 acquiring an additional 600,554 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Up 1.0 %

Shares of LyondellBasell Industries stock opened at $87.33 on Friday. LyondellBasell Industries has a 52-week low of $83.36 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The business’s 50 day simple moving average is $92.81 and its 200 day simple moving average is $95.71. The firm has a market cap of $28.36 billion, a PE ratio of 13.29, a P/E/G ratio of 1.63 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.46 EPS. On average, analysts predict that LyondellBasell Industries will post 7.38 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.14%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is 81.58%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYB. Mizuho reduced their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average price target of $100.56.

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.