Optas LLC Sells 309 Shares of LyondellBasell Industries (NYSE:LYB)

Optas LLC reduced its stake in LyondellBasell Industries (NYSE:LYB) by 8.2% during the 1st quarter, Holdings Channel reports. The firm owned 3,471 shares of the specialty chemicals company’s stock after selling 309 shares during the period. Optas LLC’s holdings in LyondellBasell Industries were worth $355,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. PGGM Investments raised its stake in LyondellBasell Industries by 6.9% during the 4th quarter. PGGM Investments now owns 13,663 shares of the specialty chemicals company’s stock worth $1,299,000 after buying an additional 879 shares during the period. International Assets Investment Management LLC acquired a new stake in LyondellBasell Industries during the 4th quarter worth $14,000,000. Arvest Investments Inc. acquired a new stake in LyondellBasell Industries during the 4th quarter worth $2,001,000. Oak Thistle LLC acquired a new stake in LyondellBasell Industries during the 4th quarter worth $1,426,000. Finally, Russell Investments Group Ltd. raised its stake in LyondellBasell Industries by 25.1% during the 4th quarter. Russell Investments Group Ltd. now owns 233,350 shares of the specialty chemicals company’s stock worth $22,198,000 after buying an additional 46,871 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 0.2 %

Shares of NYSE LYB traded down $0.17 during mid-day trading on Friday, hitting $95.66. The company had a trading volume of 3,049,060 shares, compared to its average volume of 1,811,149. The company has a market capitalization of $31.15 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. The firm has a 50-day simple moving average of $98.15 and a two-hundred day simple moving average of $98.03. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a one year low of $87.91 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating 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 company had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. During the same quarter last year, the company earned $2.50 EPS. LyondellBasell Industries’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts expect that LyondellBasell Industries will post 8.5 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, June 3rd were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a yield of 5.60%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 82.84%.

Analysts Set New Price Targets

LYB has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. Royal Bank of Canada lifted their price target on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price target on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Mizuho lifted their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Finally, Citigroup lifted their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $105.08.

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.