Envestnet Asset Management Inc. Sells 120,760 Shares of LyondellBasell Industries (NYSE:LYB)

Envestnet Asset Management Inc. cut its position in LyondellBasell Industries (NYSE:LYB) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 981,462 shares of the specialty chemicals company’s stock after selling 120,760 shares during the quarter. Envestnet Asset Management Inc.’s holdings in LyondellBasell Industries were worth $72,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Webster Bank N. A. boosted its stake in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Cairn Investment Group Inc. lifted its holdings in shares of LyondellBasell Industries by 0.4% in the fourth quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after buying an additional 155 shares in the last quarter. Alliance Wealth Advisors LLC UT lifted its holdings in shares of LyondellBasell Industries by 5.2% in the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 177 shares in the last quarter. Y.D. More Investments Ltd raised its stake in LyondellBasell Industries by 14.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 194 shares in the last quarter. Finally, Caprock Group LLC grew its holdings in shares of LyondellBasell Industries by 5.8% in the fourth quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company’s stock worth $298,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Up 12.5 %

NYSE:LYB opened at $59.90 on Thursday. The stock’s fifty day simple moving average is $72.41 and its 200-day simple moving average is $79.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $19.37 billion, a P/E ratio of 14.47, a P/E/G ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period last year, the company posted $1.26 earnings per share. Equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 8.95%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insider Activity

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LYB has been the subject of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Citigroup reduced their price target on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Barclays dropped their target price on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $76.50.

About LyondellBasell Industries

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.