Salomon & Ludwin LLC Buys 558 Shares of LyondellBasell Industries (NYSE:LYB)

Salomon & Ludwin LLC boosted its stake in LyondellBasell Industries (NYSE:LYB) by 511.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 667 shares of the specialty chemicals company’s stock after acquiring an additional 558 shares during the period. Salomon & Ludwin LLC’s holdings in LyondellBasell Industries were worth $68,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. PGGM Investments raised its position in shares of LyondellBasell Industries by 6.9% in the 4th quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock worth $1,299,000 after purchasing an additional 879 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth about $14,000,000. Arvest Investments Inc. purchased a new position in LyondellBasell Industries in the 4th quarter worth about $2,001,000. Oak Thistle LLC purchased a new stake in shares of LyondellBasell Industries during the 4th quarter valued at about $1,426,000. Finally, Russell Investments Group Ltd. increased its position in shares of LyondellBasell Industries by 25.1% during the 4th quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock valued at $22,198,000 after purchasing an additional 46,871 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded down $1.25 during trading on Tuesday, hitting $93.20. The stock had a trading volume of 1,099,505 shares, compared to its average volume of 1,837,109. The stock has a 50-day simple moving average of $97.39 and a two-hundred day simple moving average of $97.98. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The stock has a market capitalization of $30.35 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. On average, equities research analysts expect that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a yield of 5.75%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is currently 82.84%.

Analyst Ratings Changes

LYB has been the subject of several research reports. BMO Capital Markets upped their price target on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, April 30th. Barclays boosted their price objective on LyondellBasell Industries from $100.00 to $104.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Royal Bank of Canada boosted their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Deutsche Bank Aktiengesellschaft upped their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $105.08.

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.