Sonora Investment Management Group LLC Boosts Stock Position in LyondellBasell Industries (NYSE:LYB)

Sonora Investment Management Group LLC boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 5.8% during the first quarter, Holdings Channel.com reports. The firm owned 145,302 shares of the specialty chemicals company’s stock after acquiring an additional 7,986 shares during the period. Sonora Investment Management Group LLC’s holdings in LyondellBasell Industries were worth $10,229,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LYB. Dodge & Cox lifted its holdings in shares of LyondellBasell Industries by 5.3% in the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock valued at $1,260,052,000 after acquiring an additional 851,365 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in LyondellBasell Industries by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after buying an additional 558,137 shares during the period. Geode Capital Management LLC increased its position in LyondellBasell Industries by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock valued at $512,913,000 after acquiring an additional 199,054 shares during the last quarter. Invesco Ltd. boosted its stake in shares of LyondellBasell Industries by 13.5% during the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock worth $432,721,000 after purchasing an additional 694,055 shares during the period. Finally, Amundi boosted its position in shares of LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after buying an additional 1,260,913 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE LYB opened at $58.50 on Tuesday. The firm’s fifty day simple moving average is $57.43 and its two-hundred day simple moving average is $69.31. The firm has a market capitalization of $18.80 billion, a P/E ratio of 14.13, 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 12-month low of $51.11 and a 12-month high of $100.46.

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

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were paid a $1.37 dividend. 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. This represents a $5.48 dividend on an annualized basis and a yield of 9.37%. LyondellBasell Industries’s dividend payout ratio (DPR) is 169.14%.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. Wall Street Zen lowered LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Piper Sandler reduced their target price on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, April 4th. UBS Group reaffirmed a “sell” rating and issued a $51.00 price target (down previously from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Three research 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.