Chevy Chase Trust Holdings LLC Cuts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Chevy Chase Trust Holdings LLC lessened its position in LyondellBasell Industries (NYSE:LYB) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,754 shares of the specialty chemicals company’s stock after selling 1,387 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in LyondellBasell Industries were worth $14,499,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. McIlrath & Eck LLC grew its position in shares of LyondellBasell Industries by 100.7% in the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after purchasing an additional 141 shares in the last quarter. Heritage Wealth Advisors acquired a new position in LyondellBasell Industries in the 4th quarter valued at about $27,000. Gold Investment Management Ltd. purchased a new stake in LyondellBasell Industries during the fourth quarter worth about $28,000. Venturi Wealth Management LLC lifted its position in shares of LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 242 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new position in shares of LyondellBasell Industries in the fourth quarter valued at approximately $37,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho raised their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. BMO Capital Markets boosted their target price on LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. Royal Bank of Canada increased their price target on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday, April 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Finally, UBS Group decreased their price target on shares of LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.77.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded down $0.92 during trading hours on Wednesday, reaching $92.28. The stock had a trading volume of 1,010,310 shares, compared to its average volume of 1,829,990. The firm has a market cap of $30.05 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.17 and a beta of 1.09. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week high of $107.02. The firm has a 50-day moving average of $97.26 and a 200-day moving average of $97.96. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.17. The firm had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.50 EPS. Equities research analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Monday, June 3rd were given a dividend of $1.34 per share. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend was Monday, June 3rd. LyondellBasell Industries’s dividend payout ratio is presently 82.84%.

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.