LyondellBasell Industries (NYSE:LYB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. cut its holdings in LyondellBasell Industries (NYSE:LYB) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,856 shares of the specialty chemicals company’s stock after selling 725 shares during the period. Cornercap Investment Counsel Inc.’s holdings in LyondellBasell Industries were worth $955,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Allstate Corp acquired a new position in LyondellBasell Industries during the 4th quarter worth about $578,000. DnB Asset Management AS lifted its holdings in LyondellBasell Industries by 3.7% during the 4th quarter. DnB Asset Management AS now owns 53,282 shares of the specialty chemicals company’s stock worth $3,957,000 after buying an additional 1,902 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in LyondellBasell Industries by 8.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 167,688 shares of the specialty chemicals company’s stock valued at $12,454,000 after buying an additional 13,638 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of LyondellBasell Industries by 8.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 222,584 shares of the specialty chemicals company’s stock worth $16,531,000 after acquiring an additional 16,751 shares in the last quarter. Finally, Norges Bank purchased a new position in LyondellBasell Industries in the fourth quarter valued at $81,015,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

LYB stock opened at $69.81 on Friday. The business has a 50 day simple moving average of $75.58 and a 200-day simple moving average of $81.28. The company has a market capitalization of $22.58 billion, a P/E ratio of 16.86, a PEG ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a twelve month low of $69.74 and a twelve month high of $107.02. 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 issued its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (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 last year, the firm posted $1.26 earnings per share. As a group, equities analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 7.68%. LyondellBasell Industries’s dividend payout ratio (DPR) is 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of the 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 acquisition, the director now owns 16,028 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LYB has been the subject of a number of analyst reports. Piper Sandler lowered their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Royal Bank of Canada lifted their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. Mizuho dropped their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $88.25.

LyondellBasell Industries Company 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.