Frank Rimerman Advisors LLC Reduces Stake in LyondellBasell Industries (NYSE:LYB)

Frank Rimerman Advisors LLC lessened its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 88.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,298 shares of the specialty chemicals company’s stock after selling 17,059 shares during the period. Frank Rimerman Advisors LLC’s holdings in LyondellBasell Industries were worth $220,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LYB. CVA Family Office LLC boosted its holdings in shares of LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 159 shares in the last quarter. Chilton Capital Management LLC purchased a new stake in LyondellBasell Industries in the first quarter valued at $27,000. Beacon Capital Management LLC purchased a new stake in LyondellBasell Industries in the first quarter valued at $28,000. Matrix Trust Co acquired a new position in LyondellBasell Industries in the third quarter valued at $30,000. Finally, Blue Trust Inc. grew its holdings in shares of LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft upped their price target on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. 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. UBS Group lowered their price target on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a report on Tuesday, July 9th. Royal Bank of Canada reduced their price objective on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, October 11th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $106.33.

LyondellBasell Industries Trading Up 0.2 %

Shares of LYB stock opened at $87.71 on Tuesday. The business’s fifty day moving average price is $94.36 and its 200 day moving average price is $96.36. The firm has a market capitalization of $28.56 billion, a PE ratio of 13.56, a P/E/G ratio of 1.69 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.10 and a quick ratio of 1.28. LyondellBasell Industries has a 1-year low of $86.87 and a 1-year high of $107.02.

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

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a $1.34 dividend. The ex-dividend date was Monday, August 26th. This represents a $5.36 dividend on an annualized basis and a yield of 6.11%. LyondellBasell Industries’s dividend payout ratio (DPR) 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.