Dynamic Technology Lab Private Ltd Acquires Shares of 55,165 LyondellBasell Industries (NYSE:LYB)

Dynamic Technology Lab Private Ltd bought a new position in shares of LyondellBasell Industries (NYSE:LYB) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 55,165 shares of the specialty chemicals company’s stock, valued at approximately $5,290,000. LyondellBasell Industries comprises 0.6% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 6th biggest holding.

Several other hedge funds have also added to or reduced their stakes in LYB. Principal Financial Group Inc. boosted its holdings in shares of LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock worth $29,489,000 after buying an additional 18,311 shares during the period. Foresight Capital Management Advisors Inc. acquired a new position in shares of LyondellBasell Industries in the second quarter valued at approximately $1,416,000. PGGM Investments increased its stake in shares of LyondellBasell Industries by 47.9% during the second quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after purchasing an additional 7,168 shares during the period. International Assets Investment Management LLC acquired a new stake in LyondellBasell Industries during the 3rd quarter worth approximately $14,822,000. Finally, Cetera Advisors LLC boosted its stake in LyondellBasell Industries by 99.6% in the 1st quarter. Cetera Advisors LLC now owns 45,048 shares of the specialty chemicals company’s stock valued at $4,608,000 after purchasing an additional 22,476 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

LYB stock opened at $83.87 on Monday. The stock has a market cap of $27.24 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 2.34 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a 50 day simple moving average of $90.03 and a 200 day simple moving average of $94.26. LyondellBasell Industries has a 1 year low of $81.45 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.46 EPS. Research analysts anticipate that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 6.39%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Analyst Ratings Changes

A number of research firms have recently weighed in on LYB. Mizuho dropped their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Barclays cut their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler decreased their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $101.70.

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.