Gulf International Bank UK Ltd Cuts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Gulf International Bank UK Ltd lowered its stake in LyondellBasell Industries (NYSE:LYB) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,586 shares of the specialty chemicals company’s stock after selling 877 shares during the period. Gulf International Bank UK Ltd’s holdings in LyondellBasell Industries were worth $1,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of LYB. State Board of Administration of Florida Retirement System lifted its position in LyondellBasell Industries by 8.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock valued at $26,512,000 after purchasing an additional 21,809 shares during the last quarter. Banco Santander S.A. purchased a new stake in LyondellBasell Industries during the 1st quarter valued at $3,607,000. Foresight Capital Management Advisors Inc. bought a new stake in LyondellBasell Industries in the 2nd quarter worth $1,416,000. PGGM Investments increased its position in shares of LyondellBasell Industries by 47.9% in the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock valued at $2,119,000 after acquiring an additional 7,168 shares during the period. Finally, Capital World Investors raised its stake in shares of LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after acquiring an additional 600,554 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

LYB has been the topic of several recent analyst reports. Barclays cut their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday. Wells Fargo & Company reduced their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $100.56.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $86.44 on Thursday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company has a 50 day simple moving average of $92.81 and a two-hundred day simple moving average of $95.71. LyondellBasell Industries has a fifty-two week low of $83.36 and a fifty-two week high of $107.02. The company has a market capitalization of $28.07 billion, a price-to-earnings ratio of 13.16, a P/E/G ratio of 1.63 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm posted $2.46 earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. Analysts expect that LyondellBasell Industries will post 7.38 EPS 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 paid a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 6.20%. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

About LyondellBasell Industries

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.