Franklin Resources Inc. Buys 293,622 Shares of LyondellBasell Industries (NYSE:LYB)

Franklin Resources Inc. raised its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 11.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,875,267 shares of the specialty chemicals company's stock after purchasing an additional 293,622 shares during the period. Franklin Resources Inc. owned 0.89% of LyondellBasell Industries worth $268,664,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company's stock worth $1,170,183,000 after purchasing an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of LyondellBasell Industries by 4.7% during the 3rd 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 during the period. Geode Capital Management LLC raised its position in LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company's stock valued at $638,964,000 after purchasing an additional 277,108 shares during the last quarter. Pacer Advisors Inc. raised its position 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 last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Down 0.7 %

Shares of LyondellBasell Industries stock traded down $0.51 during trading on Friday, reaching $75.67. The stock had a trading volume of 2,606,383 shares, compared to its average volume of 1,973,183. LyondellBasell Industries has a 52 week low of $74.92 and a 52 week high of $107.02. The company has a market capitalization of $24.57 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 2.16 and a beta of 1.05. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The stock has a fifty day moving average price of $85.32 and a two-hundred day moving average price of $92.16.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $10.60 billion. During the same quarter in the previous year, the company posted $2.46 EPS. The business's revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 7.08%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries's payout ratio is 81.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler dropped their target price on LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating for the company in a research report on Friday, November 8th. The Goldman Sachs Group decreased their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating for the company in a research note on Thursday. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday, December 10th. Barclays decreased their target price on LyondellBasell Industries from $99.00 to $95.00 and set an "equal weight" rating for the company in a research note on Monday, November 4th. Finally, Mizuho decreased their target price on LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $97.36.

LyondellBasell Industries 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.