Ridgewood Investments LLC Reduces Position in LyondellBasell Industries (NYSE:LYB)

Ridgewood Investments LLC decreased its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 8.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,732 shares of the specialty chemicals company’s stock after selling 1,241 shares during the quarter. Ridgewood Investments LLC’s holdings in LyondellBasell Industries were worth $1,317,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LYB. Chilton Capital Management LLC purchased a new stake in shares of LyondellBasell Industries during the first quarter worth $27,000. Beacon Capital Management LLC purchased a new stake in shares of LyondellBasell Industries in the first quarter valued at about $28,000. Blue Trust Inc. grew its holdings in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after purchasing an additional 227 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of LyondellBasell Industries in the fourth quarter valued at about $37,000. Finally, Independence Bank of Kentucky grew its holdings in shares of LyondellBasell Industries by 125.6% in the second quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 216 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 2.0 %

LyondellBasell Industries stock traded up $1.88 during trading on Friday, reaching $96.75. The stock had a trading volume of 1,729,021 shares, compared to its average volume of 1,830,767. LyondellBasell Industries has a 52-week low of $88.46 and a 52-week high of $107.02. The business has a 50 day moving average price of $95.95 and a 200 day moving average price of $97.70. 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 $31.50 billion, a PE ratio of 14.95, a P/E/G ratio of 1.29 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The company had revenue of $10.56 billion during the quarter, compared to the consensus estimate of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.44 earnings per share. On average, analysts predict that LyondellBasell Industries will post 7.94 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.54%. LyondellBasell Industries’s payout ratio is 82.84%.

Analyst Ratings Changes

LYB has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. UBS Group lowered their target price 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, July 9th. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, September 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $107.27.

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.