Sound Income Strategies LLC Acquires 18,901 Shares of LyondellBasell Industries (NYSE:LYB)

Sound Income Strategies LLC raised its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 9.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 221,737 shares of the specialty chemicals company’s stock after acquiring an additional 18,901 shares during the period. LyondellBasell Industries makes up 1.7% of Sound Income Strategies LLC’s holdings, making the stock its 13th largest position. Sound Income Strategies LLC owned 0.07% of LyondellBasell Industries worth $22,679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LYB. PGGM Investments boosted its stake in LyondellBasell Industries by 6.9% in the 4th quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock worth $1,299,000 after purchasing an additional 879 shares during the period. International Assets Investment Management LLC acquired a new position in LyondellBasell Industries in the 4th quarter worth $14,000,000. Arvest Investments Inc. acquired a new position in LyondellBasell Industries in the 4th quarter worth $2,001,000. Oak Thistle LLC acquired a new position in LyondellBasell Industries in the 4th quarter worth $1,426,000. Finally, Russell Investments Group Ltd. boosted its stake in LyondellBasell Industries by 25.1% in the 4th quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after purchasing an additional 46,871 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 0.3 %

Shares of NYSE LYB traded up $0.30 during trading on Wednesday, hitting $95.78. 1,378,962 shares of the company traded hands, compared to its average volume of 1,856,069. The business’s fifty day moving average is $98.40 and its 200 day moving average is $97.96. LyondellBasell Industries has a fifty-two week low of $87.91 and a fifty-two week high of $107.02. The firm has a market capitalization of $31.19 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.18 and a beta of 1.13. 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 (NYSE:LYB) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.36 by $0.17. The company had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. Equities research analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were given a dividend of $1.34 per share. The ex-dividend date was Monday, June 3rd. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a dividend yield of 5.60%. LyondellBasell Industries’s payout ratio is presently 82.84%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LYB. Citigroup upped their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Mizuho lifted their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Finally, Wolfe Research started coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They issued an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $105.08.

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.