LyondellBasell Industries (NYSE:LYB) Reaches New 1-Year Low – Here’s What Happened

Shares of LyondellBasell Industries (NYSE:LYB) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $83.03 and last traded at $83.06, with a volume of 77297 shares trading hands. The stock had previously closed at $83.60.

Wall Street Analyst Weigh In

LYB has been the topic of a number of recent research reports. Mizuho reduced their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Barclays reduced their target price on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada lowered their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a market cap of $27.15 billion, a P/E ratio of 12.72, a PEG ratio of 2.33 and a beta of 1.08. The stock has a fifty day moving average price of $91.81 and a two-hundred day moving average price of $95.24.

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

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.41%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is presently 81.58%.

Institutional Investors Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Brooklyn Investment Group acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at $60,000. Quantbot Technologies LP bought a new position in shares of LyondellBasell Industries during the 3rd quarter worth about $3,168,000. Qsemble Capital Management LP bought a new stake in LyondellBasell Industries in the third quarter valued at about $4,792,000. Dynamic Technology Lab Private Ltd bought a new stake in LyondellBasell Industries in the third quarter valued at about $5,290,000. Finally, Daiwa Securities Group Inc. increased its stake in LyondellBasell Industries by 12.2% in the third quarter. Daiwa Securities Group Inc. now owns 31,802 shares of the specialty chemicals company’s stock valued at $3,050,000 after acquiring an additional 3,453 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

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.