Raymond James Financial Services Advisors Inc. Reduces Holdings in LyondellBasell Industries (NYSE:LYB)

Raymond James Financial Services Advisors Inc. decreased its position in shares of LyondellBasell Industries (NYSE:LYB) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 111,179 shares of the specialty chemicals company’s stock after selling 2,140 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in LyondellBasell Industries were worth $11,371,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Capital World Investors purchased a new position in shares of LyondellBasell Industries during the fourth quarter worth about $197,305,000. Pacer Advisors Inc. lifted its position in LyondellBasell Industries by 35.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock valued at $339,624,000 after purchasing an additional 935,430 shares during the period. Norges Bank acquired a new stake in LyondellBasell Industries in the fourth quarter valued at about $82,854,000. Invesco Ltd. lifted its position in LyondellBasell Industries by 24.9% in the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after purchasing an additional 815,083 shares during the period. Finally, FMR LLC lifted its position in LyondellBasell Industries by 10.3% in the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after purchasing an additional 787,221 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Activity at LyondellBasell Industries

In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $100.47, for a total transaction of $711,729.48. Following the completion of the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at approximately $2,770,460.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other LyondellBasell Industries news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the transaction, the chief accounting officer now owns 27,575 shares in the company, valued at approximately $2,770,460.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The disclosure for this sale can be found here. Insiders sold a total of 80,853 shares of company stock valued at $8,077,267 in the last quarter. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LYB shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday. Royal Bank of Canada lifted their price target on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Wells Fargo & Company lifted their price target on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Wolfe Research initiated coverage on LyondellBasell Industries in a research report on Friday, March 1st. They set an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.75.

LyondellBasell Industries Stock Up 0.3 %

Shares of LyondellBasell Industries stock traded up $0.34 during trading on Friday, reaching $99.12. The company had a trading volume of 1,506,977 shares, compared to its average volume of 1,611,830. The company has a market cap of $32.28 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.18. The firm’s fifty day moving average is $101.07 and its 200-day moving average is $96.71. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $106.69.

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

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

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.