Fortitude Family Office LLC Grows Stake in LyondellBasell Industries (NYSE:LYB)

Fortitude Family Office LLC boosted its position in LyondellBasell Industries (NYSE:LYB) by 162.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 469 shares of the specialty chemicals company’s stock after purchasing an additional 290 shares during the period. Fortitude Family Office LLC’s holdings in LyondellBasell Industries were worth $45,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Rockland Trust Co. increased its position in LyondellBasell Industries by 0.9% in the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after purchasing an additional 112 shares during the last quarter. Petredis Investment Advisors LLC grew its stake in shares of LyondellBasell Industries by 0.5% in the 3rd quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after buying an additional 116 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of LyondellBasell Industries by 0.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after buying an additional 120 shares in the last quarter. RDA Financial Network raised its position in shares of LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock valued at $313,000 after buying an additional 122 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of LyondellBasell Industries by 25.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 122 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LYB shares. Deutsche Bank Aktiengesellschaft boosted their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. UBS Group cut their target price 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. lowered their price target on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Royal Bank of Canada cut their price objective on shares of LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Finally, Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $106.33.

LyondellBasell Industries Stock Performance

LYB stock opened at $87.18 on Wednesday. LyondellBasell Industries has a twelve month low of $86.87 and a twelve month high of $107.02. The firm has a market cap of $28.34 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 1.69 and a beta of 1.07. The business’s fifty day simple moving average is $94.18 and its two-hundred day simple moving average is $96.26. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The company had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the firm posted $2.44 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that LyondellBasell Industries will post 7.53 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.15%. LyondellBasell Industries’s payout ratio is 75.39%.

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.