Lake Street Advisors Group LLC Invests $229,000 in LyondellBasell Industries (NYSE:LYB)

Lake Street Advisors Group LLC bought a new position in shares of LyondellBasell Industries (NYSE:LYB) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,240 shares of the specialty chemicals company’s stock, valued at approximately $229,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of LyondellBasell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after buying an additional 290,401 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of LyondellBasell Industries by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,683,892 shares of the specialty chemicals company’s stock worth $540,424,000 after buying an additional 33,212 shares during the last quarter. Capital World Investors acquired a new stake in shares of LyondellBasell Industries during the 4th quarter worth about $197,305,000. Wells Fargo & Company MN lifted its stake in shares of LyondellBasell Industries by 1.0% during the 4th quarter. Wells Fargo & Company MN now owns 1,390,223 shares of the specialty chemicals company’s stock worth $132,182,000 after buying an additional 13,093 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of LyondellBasell Industries by 1.2% during the 4th quarter. Victory Capital Management Inc. now owns 1,140,336 shares of the specialty chemicals company’s stock worth $108,423,000 after buying an additional 13,169 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded up $1.30 during midday trading on Thursday, hitting $96.58. The stock had a trading volume of 391,840 shares, compared to its average volume of 1,787,933. The company has a market capitalization of $31.45 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. 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’s 50-day moving average price is $96.29 and its 200-day moving average price is $97.96. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.17. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. As a group, equities research analysts predict that LyondellBasell Industries will post 8.3 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently announced 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 represents a $5.36 dividend on an annualized basis and a yield of 5.55%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Monday, June 3rd. LyondellBasell Industries’s payout ratio is presently 82.84%.

Analyst Ratings Changes

Several brokerages have weighed in on LYB. UBS Group dropped their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada lifted their price objective on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Monday, April 29th. Mizuho lifted their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Citigroup lifted their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, April 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.17.

LyondellBasell Industries 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.