LyondellBasell Industries (NYSE:LYB) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 1.0% in the first quarter, Holdings Channel.com reports. The fund owned 141,754 shares of the specialty chemicals company’s stock after selling 1,387 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in LyondellBasell Industries were worth $14,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LYB. Graham Capital Management L.P. lifted its position in shares of LyondellBasell Industries by 27.9% in the 3rd quarter. Graham Capital Management L.P. now owns 8,021 shares of the specialty chemicals company’s stock valued at $760,000 after acquiring an additional 1,749 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of LyondellBasell Industries by 13.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 27,435 shares of the specialty chemicals company’s stock valued at $2,598,000 after buying an additional 3,238 shares during the period. Pantechnicon Advisors LLP grew its holdings in shares of LyondellBasell Industries by 89.8% during the 3rd quarter. Pantechnicon Advisors LLP now owns 167,000 shares of the specialty chemicals company’s stock valued at $15,815,000 after acquiring an additional 79,000 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of LyondellBasell Industries in the third quarter worth $481,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of LyondellBasell Industries during the third quarter worth $3,788,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYB has been the topic of several research reports. UBS Group dropped their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup raised their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price target on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Mizuho upped their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $104.77.

LyondellBasell Industries Stock Performance

Shares of LYB traded down $0.92 during trading hours on Wednesday, reaching $92.28. 1,010,310 shares of the company traded hands, compared to its average volume of 1,829,990. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. The stock’s fifty day moving average is $97.26 and its 200 day moving average is $97.96. 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 $30.05 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.17 and a beta of 1.09.

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

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a $1.34 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.81%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

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.