State of Tennessee Department of Treasury Trims Stake in LyondellBasell Industries (NYSE:LYB)

State of Tennessee Department of Treasury cut its holdings in LyondellBasell Industries (NYSE:LYB) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,847 shares of the specialty chemicals company’s stock after selling 1,787 shares during the quarter. State of Tennessee Department of Treasury’s holdings in LyondellBasell Industries were worth $2,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amundi raised its stake in LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after purchasing an additional 1,260,913 shares during the period. Norges Bank acquired a new position in LyondellBasell Industries during the 4th quarter worth approximately $81,015,000. Raymond James Financial Inc. purchased a new stake in shares of LyondellBasell Industries during the 4th quarter worth approximately $69,115,000. Dodge & Cox lifted its position in shares of LyondellBasell Industries by 5.3% during the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after buying an additional 851,365 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in LyondellBasell Industries by 35.9% during the 4th quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company’s stock worth $213,204,000 after purchasing an additional 757,612 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares of the company’s stock, valued at $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

LYB has been the topic of a number of research reports. Barclays lowered their price target on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. UBS Group reiterated a “sell” rating and issued a $51.00 price target (down from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Morgan Stanley lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. StockNews.com downgraded LyondellBasell Industries from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Piper Sandler dropped their target price on LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $74.75.

LyondellBasell Industries Trading Down 1.3 %

NYSE:LYB opened at $58.69 on Tuesday. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $107.02. The firm has a market capitalization of $18.95 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The business has a 50 day simple moving average of $67.31 and a 200 day simple moving average of $75.44.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The company’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 EPS. Equities research analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 9.13%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

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.