Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in LyondellBasell Industries (NYSE:LYB – Get Rating) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,935 shares of the specialty chemicals company's stock after purchasing an additional 712 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in LyondellBasell Industries were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. WealthBridge Investment Counsel Inc. grew its stake in shares of LyondellBasell Industries by 0.4% during the first quarter. WealthBridge Investment Counsel Inc. now owns 25,930 shares of the specialty chemicals company's stock worth $2,666,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in LyondellBasell Industries by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the specialty chemicals company's stock worth $1,845,000 after purchasing an additional 100 shares in the last quarter. SPC Financial Inc. increased its holdings in LyondellBasell Industries by 2.1% in the 1st quarter. SPC Financial Inc. now owns 4,800 shares of the specialty chemicals company's stock worth $494,000 after purchasing an additional 100 shares in the last quarter. City State Bank boosted its stake in shares of LyondellBasell Industries by 6.2% during the first quarter. City State Bank now owns 1,705 shares of the specialty chemicals company's stock valued at $175,000 after purchasing an additional 100 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of LyondellBasell Industries by 1.0% during the first quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company's stock worth $1,112,000 after purchasing an additional 107 shares during the last quarter. 70.07% of the stock is owned by institutional investors.

LyondellBasell Industries Trading Down 0.8 %

LYB opened at $75.11 on Friday. The company has a fifty day moving average price of $85.35 and a two-hundred day moving average price of $96.26. LyondellBasell Industries has a 1-year low of $75.08 and a 1-year high of $117.22. The company has a market cap of $24.50 billion, a P/E ratio of 4.58, a price-to-earnings-growth ratio of 0.62 and a beta of 1.27. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.90.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 29th were issued a $1.19 dividend. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.13. This represents a $4.76 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date was Friday, August 26th. LyondellBasell Industries's dividend payout ratio (DPR) is currently 29.01%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. Barclays dropped their price objective on shares of LyondellBasell Industries from $110.00 to $102.00 and set an "overweight" rating for the company in a report on Tuesday, August 2nd. Credit Suisse Group initiated coverage on shares of LyondellBasell Industries in a research note on Monday, June 27th. They issued an "underperform" rating and a $70.00 price objective on the stock. UBS Group lowered their target price on LyondellBasell Industries from $96.00 to $83.00 and set a "neutral" rating for the company in a research report on Monday. StockNews.com lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, September 2nd. Finally, Piper Sandler lowered their price objective on LyondellBasell Industries from $115.00 to $98.00 in a research report on Monday, July 25th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $101.45.

LyondellBasell Industries Company Profile

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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.

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