Royal Fund Management LLC Sells 2,389 Shares of LyondellBasell Industries (NYSE:LYB)

Royal Fund Management LLC trimmed its position in shares of LyondellBasell Industries (NYSE:LYB) by 21.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,500 shares of the specialty chemicals company’s stock after selling 2,389 shares during the period. Royal Fund Management LLC’s holdings in LyondellBasell Industries were worth $813,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. PGGM Investments raised its holdings 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 valued at $1,299,000 after purchasing an additional 879 shares in the last quarter. Norden Group LLC purchased a new stake in LyondellBasell Industries during the first quarter worth $3,686,000. Russell Investments Group Ltd. boosted its holdings in LyondellBasell Industries by 25.1% during the fourth quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after buying an additional 46,871 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in LyondellBasell Industries by 9.3% during the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock valued at $22,679,000 after purchasing an additional 18,901 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its holdings in LyondellBasell Industries by 8.4% during the first 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 purchasing an additional 21,809 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

LYB stock traded down $0.37 during mid-day trading on Friday, reaching $97.07. The company had a trading volume of 3,472,401 shares, compared to its average volume of 1,776,973. The stock has a market capitalization of $31.61 billion, a P/E ratio of 15.00, a P/E/G ratio of 1.21 and a beta of 1.09. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02. The stock’s 50-day simple moving average is $95.84 and its two-hundred day simple moving average is $98.18.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the company earned $2.44 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts anticipate that LyondellBasell Industries will post 8.3 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date of this dividend is Monday, August 26th. LyondellBasell Industries’s payout ratio is 82.84%.

Analyst Ratings Changes

Several research firms recently issued reports on LYB. Deutsche Bank Aktiengesellschaft raised their price objective on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada boosted their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. UBS Group dropped their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company lowered their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $107.55.

About LyondellBasell Industries

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.