Greenwood Capital Associates LLC Acquires 1,993 Shares of LyondellBasell Industries (NYSE:LYB)

Greenwood Capital Associates LLC boosted its holdings in LyondellBasell Industries (NYSE:LYB) by 22.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,703 shares of the specialty chemicals company’s stock after acquiring an additional 1,993 shares during the period. Greenwood Capital Associates LLC’s holdings in LyondellBasell Industries were worth $753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in LYB. Ensign Peak Advisors Inc raised its position in shares of LyondellBasell Industries by 207.8% in the fourth quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company’s stock valued at $167,448,000 after purchasing an additional 1,522,043 shares during the period. Amundi raised its holdings in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after acquiring an additional 1,260,913 shares during the period. Norges Bank bought a new position in LyondellBasell Industries in the 4th quarter valued at about $81,015,000. Raymond James Financial Inc. bought a new stake in shares of LyondellBasell Industries during the fourth quarter worth approximately $69,115,000. Finally, Dodge & Cox grew its position in shares of LyondellBasell Industries by 5.3% in the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock valued at $1,260,052,000 after purchasing an additional 851,365 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $60.16 on Friday. The firm’s 50 day simple moving average is $57.51 and its 200 day simple moving average is $69.03. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 0.97 and a beta of 0.82. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 1 year low of $51.11 and a 1 year high of $100.46.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same period in the prior year, the business posted $1.53 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 9.11%. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s payout ratio is currently 169.14%.

Analyst Ratings Changes

Several analysts recently weighed in on LYB shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Citigroup dropped their target price on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. BMO Capital Markets decreased their price target on shares of LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 30th. Barclays lowered their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, April 4th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $69.75.

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.