TIAA Trust National Association Reduces Holdings in LyondellBasell Industries (NYSE:LYB)

TIAA Trust National Association lessened its position in shares of LyondellBasell Industries (NYSE:LYB) by 62.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,124 shares of the specialty chemicals company’s stock after selling 8,413 shares during the quarter. TIAA Trust National Association’s holdings in LyondellBasell Industries were worth $381,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LYB. State Street Corp increased its stake in LyondellBasell Industries by 1.9% during the third quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after acquiring an additional 230,327 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of LyondellBasell Industries by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after purchasing an additional 558,137 shares during the last quarter. Geode Capital Management LLC raised its holdings in LyondellBasell Industries by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after buying an additional 277,108 shares during the period. JPMorgan Chase & Co. lifted its position in LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after buying an additional 187,150 shares during the last quarter. Finally, Amundi boosted 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 buying an additional 1,260,913 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Barclays dropped their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada lifted their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Piper Sandler reduced their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, UBS Group dropped their price target on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $88.25.

Insider Activity at LyondellBasell Industries

In other news, Director Michael Sean Hanley purchased 3,750 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the transaction, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $69.81 on Friday. LyondellBasell Industries has a 12 month low of $69.74 and a 12 month high of $107.02. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The company has a market cap of $22.58 billion, a P/E ratio of 16.86, a PEG ratio of 0.97 and a beta of 1.06. The firm has a fifty day moving average price of $75.58 and a 200 day moving average price of $81.28.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $1.26 earnings per share. Sell-side analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 7.68%. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

LyondellBasell Industries Company 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.