LyondellBasell Industries (NYSE:LYB) Position Lessened by Bank of Montreal Can

Bank of Montreal Can decreased its stake in LyondellBasell Industries (NYSE:LYB) by 0.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 508,825 shares of the specialty chemicals company’s stock after selling 3,215 shares during the period. Bank of Montreal Can’s holdings in LyondellBasell Industries were worth $49,066,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. raised its stake in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after acquiring an additional 579,300 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after acquiring an additional 362,671 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after acquiring an additional 347,877 shares in the last quarter. WINTON GROUP Ltd bought a new stake in LyondellBasell Industries during the 2nd quarter valued at $17,683,000. Finally, Dimensional Fund Advisors LP raised its stake in LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after acquiring an additional 170,464 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on LYB. Mizuho cut their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $83.04 on Thursday. LyondellBasell Industries has a 1-year low of $81.45 and a 1-year high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $26.97 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 2.35 and a beta of 1.08. The stock’s fifty day simple moving average is $89.36 and its 200-day simple moving average is $93.92.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. On average, sell-side analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.45%. LyondellBasell Industries’s payout ratio is 81.58%.

LyondellBasell Industries 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.