Zurcher Kantonalbank Zurich Cantonalbank Has $11.30 Million Holdings in LyondellBasell Industries (NYSE:LYB)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of LyondellBasell Industries (NYSE:LYB) by 3.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 118,128 shares of the specialty chemicals company’s stock after selling 3,632 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in LyondellBasell Industries were worth $11,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in LyondellBasell Industries by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock valued at $2,968,726,000 after purchasing an additional 290,401 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,683,892 shares of the specialty chemicals company’s stock valued at $540,424,000 after purchasing an additional 33,212 shares in the last quarter. Capital World Investors grew its position in LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after purchasing an additional 600,554 shares in the last quarter. Wells Fargo & Company MN grew its position in LyondellBasell Industries by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,390,223 shares of the specialty chemicals company’s stock valued at $132,182,000 after purchasing an additional 13,093 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in LyondellBasell Industries by 1.2% during the fourth quarter. Victory Capital Management Inc. now owns 1,140,336 shares of the specialty chemicals company’s stock valued at $108,423,000 after purchasing an additional 13,169 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LYB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Barclays boosted their target price on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Finally, UBS Group decreased their target price on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $107.55.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded up $0.45 during trading hours on Thursday, hitting $98.17. 1,194,898 shares of the stock were exchanged, compared to its average volume of 1,762,392. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The company’s 50 day moving average is $96.18 and its 200 day moving average is $98.37. The firm has a market capitalization of $31.97 billion, a P/E ratio of 15.17, a P/E/G ratio of 1.21 and a beta of 1.09. LyondellBasell Industries has a one year low of $88.46 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $0.01. The business had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, research analysts expect that LyondellBasell Industries will post 8.3 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Monday, August 26th will be paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.46%. The ex-dividend date is Monday, August 26th. LyondellBasell Industries’s payout ratio is currently 82.84%.

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.