LyondellBasell Industries (NYSE:LYB) Shares Sold by Forza Wealth Management LLC

Forza Wealth Management LLC trimmed its position in shares of LyondellBasell Industries (NYSE:LYB) by 1.5% during the fourth quarter, HoldingsChannel reports. The fund owned 12,505 shares of the specialty chemicals company’s stock after selling 187 shares during the quarter. Forza Wealth Management LLC’s holdings in LyondellBasell Industries were worth $929,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LYB. State Street Corp raised its stake in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after buying an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after purchasing an additional 362,671 shares during the period. Geode Capital Management LLC boosted its holdings in LyondellBasell Industries by 4.4% during the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after buying an additional 277,108 shares in the last quarter. JPMorgan Chase & Co. grew its position in LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after buying an additional 187,150 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Up 3.2 %

Shares of NYSE:LYB traded up $2.30 during trading on Monday, reaching $74.78. 1,939,176 shares of the stock were exchanged, compared to its average volume of 2,872,108. The firm’s 50-day moving average price is $78.59 and its 200 day moving average price is $89.04. The firm has a market cap of $24.29 billion, a price-to-earnings ratio of 11.38, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02. 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 released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the business posted $2.46 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, sell-side analysts anticipate that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.17%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LYB. Morgan Stanley lowered their price target on LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday. The Goldman Sachs Group lowered their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Piper Sandler reissued a “neutral” rating and issued a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.33.

Insider Activity

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the purchase, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.11% of the company’s stock.

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.