SageView Advisory Group LLC Cuts Stock Position in LyondellBasell Industries (NYSE:LYB)

SageView Advisory Group LLC trimmed its stake in shares of LyondellBasell Industries (NYSE:LYB) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,797 shares of the specialty chemicals company’s stock after selling 1,159 shares during the period. SageView Advisory Group LLC’s holdings in LyondellBasell Industries were worth $356,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amundi lifted its stake in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after buying an additional 1,260,913 shares in the last quarter. Norges Bank purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at approximately $81,015,000. Raymond James Financial Inc. acquired a new stake in shares of LyondellBasell Industries in the fourth quarter worth approximately $69,115,000. Wellington Management Group LLP increased its position 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 worth $213,204,000 after purchasing an additional 757,612 shares in the last quarter. Finally, Invesco Ltd. raised its stake in LyondellBasell Industries by 13.5% in the 4th 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 last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, Director Michael Sean Hanley acquired 3,750 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Stock Down 1.3 %

Shares of NYSE:LYB opened at $56.70 on Wednesday. The company has a market capitalization of $18.34 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $107.02. The business has a 50-day moving average price of $70.73 and a 200 day moving average price of $77.92. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $1.26 EPS. Sell-side analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

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.