Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in LyondellBasell Industries (NYSE:LYB – Free Report) by 11.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 730,693 shares of the specialty chemicals company’s stock after selling 91,815 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.23% of LyondellBasell Industries worth $69,474,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. Blair William & Co. IL lifted its stake in shares of LyondellBasell Industries by 1.0% in the 1st 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 period. Mutual Advisors LLC lifted its stake in shares of LyondellBasell Industries by 0.8% in the 3rd quarter. Mutual Advisors LLC now owns 14,386 shares of the specialty chemicals company’s stock worth $1,362,000 after purchasing an additional 111 shares during the period. Covestor Ltd lifted its stake in shares of LyondellBasell Industries by 33.9% in the 1st quarter. Covestor Ltd now owns 446 shares of the specialty chemicals company’s stock worth $46,000 after purchasing an additional 113 shares during the period. Bell & Brown Wealth Advisors LLC lifted its stake in shares of LyondellBasell Industries by 1.0% in the 2nd quarter. Bell & Brown Wealth Advisors LLC now owns 11,133 shares of the specialty chemicals company’s stock worth $1,022,000 after purchasing an additional 115 shares during the period. Finally, Czech National Bank raised its stake in LyondellBasell Industries by 0.3% during the 4th quarter. Czech National Bank now owns 44,879 shares of the specialty chemicals company’s stock worth $4,267,000 after acquiring an additional 116 shares during the period. Institutional investors own 71.20% of the company’s stock.
LyondellBasell Industries Stock Up 0.6 %
Shares of LYB opened at $99.70 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. LyondellBasell Industries has a one year low of $84.80 and a one year high of $106.69. The stock has a market capitalization of $32.45 billion, a price-to-earnings ratio of 15.41, a PEG ratio of 1.22 and a beta of 1.19. The stock has a 50 day moving average price of $100.22 and a 200 day moving average price of $96.11.
LyondellBasell Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 5.02%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s payout ratio is currently 77.28%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on LYB. Wolfe Research began coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They set an “underperform” rating on the stock. Royal Bank of Canada restated an “outperform” rating and set a $107.00 target price on shares of LyondellBasell Industries in a research note on Monday, February 5th. JPMorgan Chase & Co. raised their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Barclays raised their target price on shares of LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Finally, Deutsche Bank Aktiengesellschaft cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $103.82.
Read Our Latest Analysis on LYB
Insider Buying and Selling at LyondellBasell Industries
In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 9,489 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $98.92, for a total value of $938,651.88. Following the completion of the sale, the executive vice president now directly owns 89,445 shares in the company, valued at approximately $8,847,899.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 9,489 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $98.92, for a total value of $938,651.88. Following the completion of the sale, the executive vice president now directly owns 89,445 shares in the company, valued at approximately $8,847,899.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The disclosure for this sale can be found here. Insiders sold a total of 80,853 shares of company stock worth $8,077,267 in the last three months. 0.12% of the stock is owned by corporate insiders.
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.
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