State of New Jersey Common Pension Fund D Lowers Stake in LyondellBasell Industries (NYSE:LYB)

State of New Jersey Common Pension Fund D reduced its stake in shares of LyondellBasell Industries (NYSE:LYB) by 9.5% in the fourth quarter, Holdings Channel reports. The firm owned 79,516 shares of the specialty chemicals company’s stock after selling 8,385 shares during the period. State of New Jersey Common Pension Fund D’s holdings in LyondellBasell Industries were worth $5,906,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other LyondellBasell Industries news, Director Robin W.T. Buchanan purchased 5,000 shares of LyondellBasell Industries stock in a transaction on Friday, December 13th. The stock was bought at an average cost of $76.06 per share, with a total value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Stock Up 1.9 %

LYB stock opened at $78.19 on Wednesday. The firm has a 50 day moving average of $75.58 and a 200 day moving average of $85.52. The stock has a market capitalization of $25.39 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 0.92 and a beta of 1.05. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter last year, the firm earned $1.26 earnings per share. Sell-side analysts forecast that LyondellBasell Industries will post 6.68 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Barclays lowered their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada increased their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.25.

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.