Securian Asset Management Inc. Sells 383 Shares of LyondellBasell Industries (NYSE:LYB)

Securian Asset Management Inc. lowered its holdings in LyondellBasell Industries (NYSE:LYB) by 2.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,664 shares of the specialty chemicals company’s stock after selling 383 shares during the quarter. Securian Asset Management Inc.’s holdings in LyondellBasell Industries were worth $1,403,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. 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 worth $1,299,000 after buying an additional 879 shares in the last quarter. Norden Group LLC acquired a new position in LyondellBasell Industries during the first quarter worth $3,686,000. Russell Investments Group Ltd. lifted its holdings in shares of 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 valued at $22,198,000 after acquiring an additional 46,871 shares during the period. Sound Income Strategies LLC grew its holdings in shares of LyondellBasell Industries by 9.3% in the 1st quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after purchasing an additional 18,901 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of LyondellBasell Industries by 8.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

LYB has been the topic of a number of recent analyst reports. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. UBS Group decreased their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. raised their price target on LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, August 5th. BMO Capital Markets boosted their price objective on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company lowered their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $107.55.

LyondellBasell Industries Trading Down 1.1 %

NYSE LYB traded down $1.10 during trading hours on Monday, hitting $95.76. The company’s stock had a trading volume of 445,672 shares, compared to its average volume of 1,778,119. The stock has a fifty day moving average of $95.71 and a 200 day moving average of $98.17. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The firm has a market capitalization of $31.18 billion, a P/E ratio of 14.97, a PEG 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 (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The company had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the company posted $2.44 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business 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. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a dividend yield of 5.60%. The ex-dividend date was Monday, June 3rd. LyondellBasell Industries’s payout ratio is presently 82.84%.

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.