Gateway Investment Advisers LLC Decreases Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Gateway Investment Advisers LLC cut its holdings in LyondellBasell Industries (NYSE:LYB) by 8.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 159,227 shares of the specialty chemicals company’s stock after selling 14,115 shares during the period. Gateway Investment Advisers LLC’s holdings in LyondellBasell Industries were worth $15,270,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC increased its position in shares of LyondellBasell Industries by 3.6% during the 1st quarter. Lantz Financial LLC now owns 3,174 shares of the specialty chemicals company’s stock valued at $325,000 after purchasing an additional 109 shares during the last quarter. Rockland Trust Co. lifted its holdings in shares of LyondellBasell Industries by 0.9% in the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after acquiring an additional 112 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in shares of LyondellBasell Industries by 0.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 120 shares during the period. RDA Financial Network raised its position in LyondellBasell Industries by 3.9% in the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in LyondellBasell Industries by 25.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after purchasing an additional 122 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded down $0.87 during trading on Friday, hitting $93.79. The stock had a trading volume of 1,766,620 shares, compared to its average volume of 1,825,915. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The stock has a 50-day simple moving average of $95.64 and a two-hundred day simple moving average of $97.47. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The stock has a market capitalization of $30.49 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $0.01. The business had revenue of $10.56 billion during the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. On average, equities research analysts expect that LyondellBasell Industries will post 7.8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is 75.39%.

Analyst Ratings Changes

LYB has been the subject of a number of research analyst reports. UBS Group decreased their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company decreased their price objective on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada dropped their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $106.40.

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.