Swedbank AB Sells 5,729 Shares of LyondellBasell Industries (NYSE:LYB)

Swedbank AB lowered its stake in LyondellBasell Industries (NYSE:LYB) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,673 shares of the specialty chemicals company’s stock after selling 5,729 shares during the quarter. Swedbank AB’s holdings in LyondellBasell Industries were worth $11,265,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. grew its holdings in shares of LyondellBasell Industries by 211.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after acquiring an additional 871,708 shares during the period. Charles Schwab Investment Management Inc. boosted its position in 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 worth $769,500,000 after purchasing an additional 362,671 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock valued at $268,664,000 after purchasing an additional 293,622 shares during the period. Geode Capital Management LLC increased its position in shares of LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after purchasing an additional 277,108 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of LyondellBasell Industries by 1.9% in 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 purchasing an additional 230,327 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

LYB stock opened at $75.53 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company’s fifty day moving average price is $76.63 and its 200-day moving average price is $87.41. LyondellBasell Industries has a one year low of $72.21 and a one year high of $107.02. The company has a market capitalization of $24.53 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 5.26 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced 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 return on equity of 17.05% and a net margin of 5.29%. During the same quarter in the previous year, the firm posted $1.26 earnings per share. On average, equities analysts anticipate 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 issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.10%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research reports. Piper Sandler reiterated a “neutral” rating and issued a $95.00 price target (down from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. 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 report on Friday, December 6th. Mizuho decreased their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $94.33.

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.