Kingsview Wealth Management LLC Sells 20,261 Shares of LyondellBasell Industries (NYSE:LYB)

Kingsview Wealth Management LLC lowered its stake in LyondellBasell Industries (NYSE:LYB) by 65.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 10,559 shares of the specialty chemicals company’s stock after selling 20,261 shares during the quarter. Kingsview Wealth Management LLC’s holdings in LyondellBasell Industries were worth $1,013,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC grew its holdings in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the period. Beacon Capital Management LLC bought a new position in shares of LyondellBasell Industries during the 1st quarter worth about $28,000. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $30,000. Blue Trust Inc. increased its position in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in LyondellBasell Industries during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 2.3 %

NYSE:LYB opened at $82.14 on Wednesday. LyondellBasell Industries has a 52 week low of $81.45 and a 52 week high of $107.02. The firm has a 50-day moving average price of $89.57 and a two-hundred day moving average price of $94.00. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 2.34 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results 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). The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.46 earnings per share. On average, equities analysts expect that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 81.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reduced their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.70.

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.