CCM Investment Group LLC Invests $1.86 Million in LyondellBasell Industries N.V. (NYSE:LYB)

CCM Investment Group LLC bought a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB) during the first quarter, Holdings Channel reports. The firm bought 26,653 shares of the specialty chemicals company’s stock, valued at approximately $1,861,000.

A number of other hedge funds also recently made changes to their positions in the business. Bank Pictet & Cie Europe AG raised its stake in LyondellBasell Industries by 26.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company’s stock valued at $14,013,000 after acquiring an additional 39,957 shares during the period. Treasurer of the State of North Carolina raised its stake in LyondellBasell Industries by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 114,486 shares of the specialty chemicals company’s stock valued at $8,503,000 after acquiring an additional 720 shares during the period. Covestor Ltd raised its stake in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock valued at $41,000 after acquiring an additional 284 shares during the period. Sterling Capital Management LLC raised its stake in LyondellBasell Industries by 55.5% in the 4th quarter. Sterling Capital Management LLC now owns 15,430 shares of the specialty chemicals company’s stock valued at $1,146,000 after acquiring an additional 5,504 shares during the period. Finally, Townsquare Capital LLC raised its stake in LyondellBasell Industries by 7.6% in the 4th quarter. Townsquare Capital LLC now owns 48,641 shares of the specialty chemicals company’s stock valued at $3,613,000 after acquiring an additional 3,448 shares during the period. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Trading Down 2.3%

Shares of LYB opened at $49.04 on Friday. LyondellBasell Industries N.V. has a twelve month low of $48.90 and a twelve month high of $99.36. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock has a market cap of $15.77 billion, a PE ratio of 63.69, a P/E/G ratio of 3.18 and a beta of 0.85. The business’s 50-day moving average price is $59.46 and its 200-day moving average price is $64.34.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the previous year, the firm posted $2.24 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.2%. LyondellBasell Industries’s payout ratio is presently 711.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Piper Sandler lowered their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. UBS Group decreased their price target on LyondellBasell Industries from $49.00 to $44.00 and set a “sell” rating on the stock in a research report on Thursday. Fermium Researc upgraded LyondellBasell Industries to a “strong-buy” rating in a research report on Friday, April 25th. Finally, Argus cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.08.

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.