HighTower Advisors LLC Buys 159,803 Shares of LyondellBasell Industries (NYSE:LYB)

HighTower Advisors LLC increased its stake in shares of LyondellBasell Industries (NYSE:LYB) by 18.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,038,687 shares of the specialty chemicals company’s stock after buying an additional 159,803 shares during the quarter. HighTower Advisors LLC owned 0.32% of LyondellBasell Industries worth $99,557,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after buying an additional 362,671 shares in the last quarter. Pacer Advisors Inc. grew its stake 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 period. Dimensional Fund Advisors LP grew its stake in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock valued at $449,175,000 after purchasing an additional 170,464 shares during the period. Envestnet Asset Management Inc. grew its stake in LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates grew its stake in LyondellBasell Industries by 0.4% in the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock valued at $87,512,000 after purchasing an additional 3,394 shares during the period. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $80.78 on Wednesday. The business’s 50-day moving average price is $88.34 and its two-hundred day moving average price is $93.35. LyondellBasell Industries has a twelve month low of $80.62 and a twelve month high of $107.02. The stock has a market cap of $26.23 billion, a P/E ratio of 12.30, a PEG ratio of 2.29 and a beta of 1.05. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.46 EPS. As a group, equities analysts predict that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.64%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Analyst Ratings Changes

LYB has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Barclays dropped their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $101.70.

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.