OLD National Bancorp IN Has $8.41 Million Stake in LyondellBasell Industries (NYSE:LYB)

OLD National Bancorp IN decreased its stake in LyondellBasell Industries (NYSE:LYB) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 87,734 shares of the specialty chemicals company’s stock after selling 2,167 shares during the period. OLD National Bancorp IN’s holdings in LyondellBasell Industries were worth $8,414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norden Group LLC acquired a new position in LyondellBasell Industries in the first quarter worth $3,686,000. Sound Income Strategies LLC boosted its stake in LyondellBasell Industries by 9.3% in the first quarter. Sound Income Strategies LLC now owns 221,737 shares of the specialty chemicals company’s stock worth $22,679,000 after purchasing an additional 18,901 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in LyondellBasell Industries by 8.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 282,374 shares of the specialty chemicals company’s stock worth $26,512,000 after purchasing an additional 21,809 shares in the last quarter. Banco Santander S.A. acquired a new position in LyondellBasell Industries in the first quarter worth $3,607,000. Finally, Foresight Capital Management Advisors Inc. bought a new stake in shares of LyondellBasell Industries during the second quarter worth $1,416,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 0.1 %

Shares of LyondellBasell Industries stock traded down $0.10 during trading hours on Friday, hitting $91.49. The company’s stock had a trading volume of 1,669,653 shares, compared to its average volume of 1,826,556. LyondellBasell Industries has a 12 month low of $88.46 and a 12 month high of $107.02. The stock has a 50 day moving average of $95.33 and a 200 day moving average of $97.07. The company has a market capitalization of $29.79 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results 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. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts predict that LyondellBasell Industries will post 7.8 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders 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 annualized dividend and a dividend yield of 5.86%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 82.84%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LYB. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada dropped their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, October 11th. JPMorgan Chase & Co. dropped their target price 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. Finally, UBS Group dropped their target price on 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, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $106.33.

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.