Hennion & Walsh Asset Management Inc. Purchases 1,109 Shares of LyondellBasell Industries (NYSE:LYB)

Hennion & Walsh Asset Management Inc. grew its position in LyondellBasell Industries (NYSE:LYB) by 5.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 20,082 shares of the specialty chemicals company’s stock after purchasing an additional 1,109 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in LyondellBasell Industries were worth $1,414,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LYB. JPMorgan Chase & Co. boosted its stake in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares during the last quarter. Caprock Group LLC boosted its stake in LyondellBasell Industries by 5.8% during the fourth quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company’s stock worth $298,000 after acquiring an additional 220 shares in the last quarter. Yousif Capital Management LLC boosted its stake in LyondellBasell Industries by 4.4% during the fourth quarter. Yousif Capital Management LLC now owns 48,786 shares of the specialty chemicals company’s stock worth $3,623,000 after acquiring an additional 2,068 shares in the last quarter. Tyche Wealth Partners LLC boosted its stake in LyondellBasell Industries by 39.1% during the fourth quarter. Tyche Wealth Partners LLC now owns 3,206 shares of the specialty chemicals company’s stock worth $238,000 after acquiring an additional 902 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in LyondellBasell Industries by 32.7% during the fourth quarter. State of Alaska Department of Revenue now owns 54,624 shares of the specialty chemicals company’s stock worth $4,056,000 after acquiring an additional 13,470 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This represents a 30.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by corporate insiders.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $56.63 on Friday. The firm has a 50-day moving average of $57.67 and a 200-day moving average of $69.67. The company has a market cap of $18.20 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.97 and a beta of 0.82. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. LyondellBasell Industries has a one year low of $51.11 and a one year high of $100.46.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 EPS. Equities research analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 9.68%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s dividend payout ratio (DPR) is 169.14%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LYB. BMO Capital Markets cut their target price 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. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Barclays cut their target price on shares of LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average target price of $69.75.

LyondellBasell Industries Company 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.