Highland Capital Management LLC Boosts Holdings in LyondellBasell Industries (NYSE:LYB)

Highland Capital Management LLC raised its stake in LyondellBasell Industries (NYSE:LYB) by 15.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,905 shares of the specialty chemicals company’s stock after acquiring an additional 6,030 shares during the period. Highland Capital Management LLC’s holdings in LyondellBasell Industries were worth $4,306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Capital World Investors lifted its stake in LyondellBasell Industries by 28.9% in 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 buying an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of LyondellBasell Industries in the 1st quarter valued at $61,327,000. Pacer Advisors Inc. raised its position in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after purchasing an additional 347,877 shares during the period. Finally, WINTON GROUP Ltd purchased a new position in LyondellBasell Industries during the 2nd quarter worth $17,683,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $87.50 on Friday. The firm’s fifty day simple moving average is $94.74 and its 200-day simple moving average is $96.69. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The stock has a market cap of $28.49 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.07. LyondellBasell Industries has a fifty-two week low of $87.41 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.01. The company had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. Analysts expect that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a yield of 6.13%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 82.84%.

Analyst Upgrades and Downgrades

LYB has been the subject of a number of research reports. Barclays reduced their target price on shares of LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their price objective on LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped their target price on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, October 11th. Wells Fargo & Company decreased their price target on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, August 5th. Finally, UBS Group dropped their price objective on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $106.33.

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.