LyondellBasell Industries (NYSE:LYB) Shares Bought by Cadence Bank

Cadence Bank increased its holdings in LyondellBasell Industries (NYSE:LYB) by 2.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 82,929 shares of the specialty chemicals company’s stock after buying an additional 2,174 shares during the period. Cadence Bank’s holdings in LyondellBasell Industries were worth $7,953,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its stake in LyondellBasell Industries by 6.3% in the third quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after acquiring an additional 18,311 shares during the period. Foresight Capital Management Advisors Inc. bought a new stake in shares of LyondellBasell Industries in the 2nd quarter worth approximately $1,416,000. PGGM Investments grew its stake in LyondellBasell Industries by 47.9% during the 2nd quarter. PGGM Investments now owns 22,148 shares of the specialty chemicals company’s stock worth $2,119,000 after buying an additional 7,168 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of LyondellBasell Industries during the third quarter valued at $14,822,000. Finally, Cetera Advisors LLC grew its position in LyondellBasell Industries by 99.6% in the 1st quarter. Cetera Advisors LLC now owns 45,048 shares of the specialty chemicals company’s stock worth $4,608,000 after purchasing an additional 22,476 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE LYB opened at $82.14 on Wednesday. The stock has a market capitalization of $26.68 billion, a P/E ratio of 12.50, a P/E/G ratio of 2.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The business’s fifty day moving average is $89.57 and its two-hundred day moving average is $94.00. LyondellBasell Industries has a 1 year low of $81.45 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the firm earned $2.46 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LYB shares. Royal Bank of Canada reduced their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Mizuho lowered their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company reduced their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. Finally, Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.