Truist Financial Corp Reduces Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Truist Financial Corp reduced its position in LyondellBasell Industries (NYSE:LYB) by 2.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 247,285 shares of the specialty chemicals company’s stock after selling 6,075 shares during the quarter. Truist Financial Corp’s holdings in LyondellBasell Industries were worth $23,512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in LyondellBasell Industries by 10.3% in the 3rd quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after acquiring an additional 787,221 shares during the period. Morgan Stanley increased its stake in shares of LyondellBasell Industries by 9.9% in the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock worth $597,140,000 after purchasing an additional 569,887 shares in the last quarter. Federated Hermes Inc. raised its position in shares of LyondellBasell Industries by 4.0% in the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock valued at $536,752,000 after purchasing an additional 217,461 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of LyondellBasell Industries by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,650,680 shares of the specialty chemicals company’s stock valued at $535,119,000 after buying an additional 143,542 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in LyondellBasell Industries by 24.9% in the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after buying an additional 815,083 shares during the period. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Trading Down 0.4 %

Shares of LYB opened at $101.70 on Tuesday. LyondellBasell Industries has a 1-year low of $84.80 and a 1-year high of $106.69. The company has a market capitalization of $33.10 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.25 and a beta of 1.19. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The firm’s 50 day simple moving average is $100.95 and its 200 day simple moving average is $96.58.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts forecast that LyondellBasell Industries will post 8.69 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. Shareholders of record on Monday, March 4th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a yield of 4.92%. LyondellBasell Industries’s payout ratio is 77.28%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Wolfe Research began coverage on LyondellBasell Industries in a report on Friday, March 1st. They set an “underperform” rating on the stock. Barclays raised their target price on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Royal Bank of Canada upped their price target on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Vertical Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $104.67.

Insiders Place Their Bets

In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $100.47, for a total transaction of $711,729.48. Following the transaction, the chief accounting officer now directly owns 27,575 shares in the company, valued at approximately $2,770,460.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $99.19, for a total value of $2,899,224.51. Following the completion of the sale, the executive vice president now owns 91,758 shares in the company, valued at $9,101,476.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total transaction of $711,729.48. Following the sale, the chief accounting officer now directly owns 27,575 shares of the company’s stock, valued at approximately $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 over the last 90 days. Insiders own 0.11% of the company’s stock.

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.