LyondellBasell Industries (NYSE:LYB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 1.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,313 shares of the specialty chemicals company’s stock after selling 309 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in LyondellBasell Industries were worth $2,039,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LYB. Capital World Investors bought a new position in LyondellBasell Industries in the fourth quarter worth about $197,305,000. Norges Bank bought a new stake in shares of LyondellBasell Industries in the 4th quarter worth approximately $82,854,000. Ilex Capital Partners UK LLP acquired a new position in LyondellBasell Industries during the 1st quarter valued at approximately $61,327,000. Allianz Asset Management GmbH grew its stake in LyondellBasell Industries by 826.1% during the 4th quarter. Allianz Asset Management GmbH now owns 409,241 shares of the specialty chemicals company’s stock worth $38,911,000 after buying an additional 365,050 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in LyondellBasell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after buying an additional 290,401 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $93.96 on Thursday. LyondellBasell Industries has a twelve month low of $88.46 and a twelve month high of $107.02. The company has a current ratio of 2.10, a quick ratio of 1.28 and a debt-to-equity ratio of 0.82. The firm has a 50-day moving average of $96.20 and a two-hundred day moving average of $98.27. The company has a market capitalization of $30.60 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.28 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.23 by $0.01. The business had revenue of $10.56 billion during 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 business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $2.44 earnings per share. As a group, analysts expect that LyondellBasell Industries will post 8 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is 82.84%.

Wall Street Analyst Weigh In

LYB has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of LyondellBasell Industries from $110.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, August 5th. UBS Group reduced their price objective on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $107.55.

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.