Trustmark National Bank Trust Department Trims Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Trustmark National Bank Trust Department lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 13.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,889 shares of the specialty chemicals company’s stock after selling 774 shares during the quarter. Trustmark National Bank Trust Department’s holdings in LyondellBasell Industries were worth $363,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Amundi grew its holdings in shares of LyondellBasell Industries by 48.6% in the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after purchasing an additional 1,260,913 shares during the last quarter. Norges Bank bought a new position in LyondellBasell Industries in the 4th quarter worth about $81,015,000. Raymond James Financial Inc. purchased a new position in shares of LyondellBasell Industries during the fourth quarter worth approximately $69,115,000. Wellington Management Group LLP raised its stake in shares of LyondellBasell Industries by 35.9% during the fourth quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company’s stock valued at $213,204,000 after acquiring an additional 757,612 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of LyondellBasell Industries by 13.5% in the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock valued at $432,721,000 after purchasing an additional 694,055 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Activity

In related news, Director Michael Sean Hanley acquired 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.

LyondellBasell Industries Trading Up 1.1 %

NYSE:LYB opened at $57.50 on Tuesday. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The firm has a 50 day moving average of $71.15 and a 200 day moving average of $78.07.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data 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 business posted $1.26 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 9.32%. LyondellBasell Industries’s payout ratio is 129.47%.

Wall Street Analyst Weigh In

Several research firms have commented on LYB. Citigroup reduced their price objective on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Barclays cut their price target on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, April 4th. UBS Group reissued a “sell” rating and set a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Finally, Piper Sandler lowered their price target on shares of LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating for the company in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average target price of $76.50.

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.