Concord Asset Management LLC VA Cuts Stake in LyondellBasell Industries (NYSE:LYB)

Concord Asset Management LLC VA decreased its holdings in LyondellBasell Industries (NYSE:LYB) by 9.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,474 shares of the specialty chemicals company’s stock after selling 480 shares during the period. Concord Asset Management LLC VA’s holdings in LyondellBasell Industries were worth $332,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in LyondellBasell Industries by 18.2% in the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock valued at $99,557,000 after acquiring an additional 159,803 shares during the period. JPMorgan Chase & Co. boosted its stake in LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after purchasing an additional 187,150 shares during the period. Quantinno Capital Management LP grew its holdings in LyondellBasell Industries by 23.1% during the 3rd quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after buying an additional 11,610 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in shares of LyondellBasell Industries by 202.4% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after buying an additional 8,691 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of LyondellBasell Industries by 8.1% in the fourth quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock worth $20,174,000 after buying an additional 20,310 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the acquisition, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.11% of the stock is owned by corporate insiders.

LyondellBasell Industries Price Performance

Shares of LYB stock opened at $75.53 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02. The stock has a fifty day simple moving average of $76.46 and a two-hundred day simple moving average of $87.27. The stock has a market capitalization of $24.53 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 5.26 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. During the same period in the prior year, the firm posted $1.26 EPS. On average, analysts predict that LyondellBasell Industries will post 6.48 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.10%. LyondellBasell Industries’s payout ratio is presently 81.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LYB. Mizuho reduced their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Morgan Stanley lowered their target price on LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and set a $95.00 price objective (down previously from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $94.33.

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.