Adell Harriman & Carpenter Inc. Reduces Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Adell Harriman & Carpenter Inc. reduced its stake in LyondellBasell Industries (NYSE:LYB) by 56.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,583 shares of the specialty chemicals company’s stock after selling 34,993 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in LyondellBasell Industries were worth $1,974,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LYB. Castleview Partners LLC lifted its holdings in LyondellBasell Industries by 7.2% in the third quarter. Castleview Partners LLC now owns 2,023 shares of the specialty chemicals company’s stock valued at $194,000 after acquiring an additional 136 shares during the period. Webster Bank N. A. raised its stake in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 143 shares during the last quarter. Cairn Investment Group Inc. raised its stake in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after buying an additional 155 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of LyondellBasell Industries by 1.0% during the 3rd quarter. Raymond James Trust N.A. now owns 17,483 shares of the specialty chemicals company’s stock worth $1,677,000 after buying an additional 173 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT raised its stake in shares of LyondellBasell Industries by 5.2% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 177 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LYB. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Royal Bank of Canada lifted their price target on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Piper Sandler cut their price target on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Mizuho dropped their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $88.25.

Insider Activity

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Up 0.7 %

LYB opened at $76.74 on Friday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The stock has a market capitalization of $24.92 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.05. The business has a 50-day moving average of $75.59 and a two-hundred day moving average of $86.00. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate 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 in the previous year, the firm posted $1.26 earnings per share. On average, research analysts expect that LyondellBasell Industries will post 6.68 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.98%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

LyondellBasell Industries 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.