Sumitomo Mitsui Trust Holdings Inc. Trims Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in LyondellBasell Industries (NYSE:LYB) by 11.2% in the fourth quarter, HoldingsChannel reports. 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.’s holdings in LyondellBasell Industries were worth $69,474,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in LyondellBasell Industries by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after buying an additional 335,124 shares during the last quarter. State Street Corp lifted its holdings in LyondellBasell Industries by 2.9% during the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after buying an additional 348,169 shares during the last quarter. FMR LLC lifted its holdings in LyondellBasell Industries by 10.3% during the 3rd quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after buying an additional 787,221 shares during the last quarter. Morgan Stanley lifted its holdings in LyondellBasell Industries by 9.9% during the 3rd quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock worth $597,140,000 after buying an additional 569,887 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in LyondellBasell Industries by 4.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock worth $536,752,000 after buying an additional 217,461 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

LYB has been the topic of a number of research analyst reports. Wells Fargo & Company increased their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Barclays raised their price target on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Wolfe Research initiated coverage on LyondellBasell Industries in a report on Friday, March 1st. They issued an “underperform” rating on the stock. Vertical Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. raised their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average target price of $103.82.

LyondellBasell Industries Stock Up 0.6 %

Shares of LYB stock opened at $99.70 on Thursday. LyondellBasell Industries has a 1 year low of $84.80 and a 1 year high of $106.69. The stock has a market cap of $32.45 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The business’s fifty day moving average is $100.22 and its 200-day moving average is $96.11. 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 (NYSE:LYB) last issued its quarterly earnings results on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.07). LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.85 billion. During the same quarter last year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities analysts expect that LyondellBasell Industries will post 8.63 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 77.28%.

Insider Transactions at LyondellBasell Industries

In other news, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the sale, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the sale, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now directly 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 valued at $8,077,267 in the last three months. 0.12% of the stock is currently owned by corporate insiders.

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.