Rockefeller Capital Management L.P. Lowers Stake in LyondellBasell Industries (NYSE:LYB)

Rockefeller Capital Management L.P. lowered its stake in shares of LyondellBasell Industries (NYSE:LYB) by 8.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 31,675 shares of the specialty chemicals company’s stock after selling 2,851 shares during the period. Rockefeller Capital Management L.P.’s holdings in LyondellBasell Industries were worth $3,039,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in LYB. Charles Schwab Investment Management Inc. raised its position in LyondellBasell Industries by 4.7% in the 3rd 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 period. Pacer Advisors Inc. raised its position in LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after purchasing an additional 579,300 shares during the period. Dimensional Fund Advisors LP raised its position in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after purchasing an additional 170,464 shares during the period. Envestnet Asset Management Inc. raised its position in LyondellBasell Industries by 0.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock worth $101,886,000 after purchasing an additional 6,760 shares during the period. Finally, Raymond James & Associates raised its position in LyondellBasell Industries by 0.4% in the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company’s stock worth $87,512,000 after purchasing an additional 3,394 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LYB shares. Mizuho cut their price target on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada cut their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Piper Sandler lowered their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Price Performance

LYB opened at $77.41 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 stock has a market capitalization of $25.14 billion, a P/E ratio of 11.78, a P/E/G ratio of 2.26 and a beta of 1.05. The company’s 50-day simple moving average is $87.63 and its two-hundred day simple moving average is $93.13. LyondellBasell Industries has a 52-week low of $76.22 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the company earned $2.46 EPS. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, analysts predict that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 6.92%. The ex-dividend date of this dividend is Monday, December 2nd. LyondellBasell Industries’s payout ratio is currently 81.58%.

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.