Swedbank AB owns $15.06 million in LyondellBasell Industries (NYSE:LYB)

Swedbank AB cut its holdings in LyondellBasell Industries (NYSE:LYB – Free Report) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,402 shares of the specialty chemicals company’s stock after selling 3,359 shares during the period. Swedbank AB’s holdings in LyondellBasell Industries were worth $15,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have recently made changes to their positions in the company. J.Safra Asset Management Corp purchased a new position in shares of LyondellBasell Industries during the second quarter valued at about $113,000. SteelPeak Wealth LLC acquired a new position in shares of LyondellBasell Industries during the second quarter valued at about $953,000. Keudell Morrison Wealth Management lifted its position in shares of LyondellBasell Industries by 16.7% during the second quarter. Keudell Morrison Wealth Management now owns 5,413 shares of the specialty chemicals company’s stock worth $518,000 after purchasing an additional 773 shares during the last quarter. IAG Wealth Partners LLC acquired a new position in shares of LyondellBasell Industries during the second quarter valued at approximately $54,000. Finally, Envestnet Portfolio Solutions Inc. lifted its position in shares of LyondellBasell Industries by 2.2% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 39,500 shares of the specialty chemicals company’s stock worth $3,779,000 after purchasing an additional 838 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s shares.

LyondellBasell Industries stock fell 0.4%

NYSE LYB opened at $97.07 on Friday. The firm has a market cap of $31.61 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.09. 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 200-day simple moving average is $98.18. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12, and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB – Get Your Free Report ) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. LyondellBasell Industries’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. As a group, sell-side analysts predict that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th will be issued a dividend of $1.34 per share. This represents an annualized dividend of $5.36 and a yield of 5.52%. The ex-dividend date is Monday, August 26. LyondellBasell Industries’ dividend yield is 82.84%.

Analysts set new price targets

LYB has been the subject of several research analyst reports. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. boosted their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Mizuho boosted their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Barclays upped their target price 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. Finally, UBS Group reduced their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average target price of $107.55.

Check out our latest analysis of LyondellBasell Industries

About LyondellBasell Industries

(Free Report)

LyondellBasell Industries NV 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; Intermediation and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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