LyondellBasell Industries (NYSE:LYB) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of LyondellBasell Industries (NYSE:LYB) by 7.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 8,447 shares of the specialty chemicals company’s stock after selling 682 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in LyondellBasell Industries were worth $864,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. McIlrath & Eck LLC grew its holdings in shares of LyondellBasell Industries by 100.7% in the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock worth $27,000 after acquiring an additional 141 shares during the last quarter. Heritage Wealth Advisors acquired a new position in shares of LyondellBasell Industries in the 4th quarter worth $27,000. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries in the 1st quarter worth $27,000. Gold Investment Management Ltd. acquired a new position in shares of LyondellBasell Industries in the 4th quarter worth $28,000. Finally, Venturi Wealth Management LLC grew its holdings in shares of LyondellBasell Industries by 410.2% in the 4th quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 242 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 0.0 %

NYSE:LYB traded up $0.03 during trading hours on Monday, hitting $97.29. 289,941 shares of the stock were exchanged, compared to its average volume of 1,779,218. The company’s 50 day moving average is $96.15 and its two-hundred day moving average is $98.00. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $31.68 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.20 and a beta of 1.09.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that LyondellBasell Industries will post 8.3 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were issued a dividend of $1.34 per share. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.36 annualized dividend and a yield of 5.51%. LyondellBasell Industries’s dividend payout ratio is currently 82.84%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. Wells Fargo & Company lifted their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. BMO Capital Markets lifted their price target on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft lifted their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, April 30th. Mizuho lifted their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Finally, UBS Group lowered their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $105.17.

LyondellBasell Industries Company 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.