Pinnacle Associates Ltd. lessened its stake in shares of LyondellBasell Industries NV (NYSE:LYB) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,163 shares of the specialty chemicals company’s stock after selling 7,888 shares during the period. Pinnacle Associates Ltd.’s holdings in LyondellBasell Industries were worth $7,940,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in LYB. Seven Bridges Advisors LLC boosted its position in shares of LyondellBasell Industries by 32.8% in the second quarter. Seven Bridges Advisors LLC now owns 1,936 shares of the specialty chemicals company’s stock valued at $163,000 after acquiring an additional 478 shares during the period. BDO Wealth Advisors LLC boosted its position in shares of LyondellBasell Industries by 64.5% in the third quarter. BDO Wealth Advisors LLC now owns 1,785 shares of the specialty chemicals company’s stock valued at $177,000 after acquiring an additional 700 shares during the period. WESPAC Advisors SoCal LLC boosted its position in shares of LyondellBasell Industries by 4.9% in the second quarter. WESPAC Advisors SoCal LLC now owns 2,125 shares of the specialty chemicals company’s stock valued at $179,000 after acquiring an additional 100 shares during the period. WFG Advisors LP boosted its position in shares of LyondellBasell Industries by 66.4% in the second quarter. WFG Advisors LP now owns 2,213 shares of the specialty chemicals company’s stock valued at $187,000 after acquiring an additional 883 shares during the period. Finally, HighVista Strategies LLC bought a new stake in shares of LyondellBasell Industries in the second quarter valued at approximately $203,000. Institutional investors own 74.29% of the company’s stock.

Several equities research analysts have recently weighed in on LYB shares. Jefferies Group set a $88.00 price objective on LyondellBasell Industries and gave the company a “hold” rating in a research report on Monday, August 21st. Cowen reissued a “hold” rating and issued a $90.00 price objective on shares of LyondellBasell Industries in a research report on Monday, August 28th. ValuEngine raised LyondellBasell Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 6th. Nomura reissued a “hold” rating and issued a $99.00 price objective (up from $90.00) on shares of LyondellBasell Industries in a research report on Tuesday, September 26th. Finally, SunTrust Banks reissued a “hold” rating and issued a $96.00 price objective (up from $90.00) on shares of LyondellBasell Industries in a research report on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $99.56.

In related news, Director Jagjeet S. Bindra sold 1,574 shares of the firm’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $103.73, for a total value of $163,271.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by company insiders.

LyondellBasell Industries NV (NYSE LYB) opened at $104.10 on Friday. The company has a market capitalization of $41,299.99, a price-to-earnings ratio of 10.83, a P/E/G ratio of 1.17 and a beta of 1.07. LyondellBasell Industries NV has a 12-month low of $78.01 and a 12-month high of $107.83. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.40 and a quick ratio of 1.49.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, December 5th will be given a $0.90 dividend. The ex-dividend date is Monday, December 4th. This represents a $3.60 annualized dividend and a yield of 3.46%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 38.59%.

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LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.

Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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