Fiduciary Trust Co Lowers Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Fiduciary Trust Co cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 17.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,995 shares of the specialty chemicals company’s stock after selling 6,887 shares during the period. Fiduciary Trust Co’s holdings in LyondellBasell Industries were worth $2,376,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Barclays PLC lifted its holdings in LyondellBasell Industries by 7.3% during the 3rd quarter. Barclays PLC now owns 948,211 shares of the specialty chemicals company’s stock worth $90,933,000 after buying an additional 64,359 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in LyondellBasell Industries by 6.3% in the third quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after purchasing an additional 18,311 shares during the period. JPMorgan Chase & Co. grew its stake in LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after purchasing an additional 187,150 shares in the last quarter. GAMMA Investing LLC increased its holdings in LyondellBasell Industries by 58.0% during the 4th quarter. GAMMA Investing LLC now owns 1,924 shares of the specialty chemicals company’s stock worth $143,000 after purchasing an additional 706 shares during the period. Finally, Ridgewood Investments LLC raised its position in LyondellBasell Industries by 20.2% in the 4th quarter. Ridgewood Investments LLC now owns 16,503 shares of the specialty chemicals company’s stock valued at $1,226,000 after purchasing an additional 2,771 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LYB shares. Morgan Stanley cut 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 Tuesday, February 4th. Citigroup dropped their price objective on shares of LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. BMO Capital Markets decreased their price objective on shares of LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. UBS Group reissued a “sell” rating and issued a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Finally, Wells Fargo & Company cut their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $69.75.

LyondellBasell Industries Stock Down 0.4 %

LYB stock opened at $56.98 on Friday. LyondellBasell Industries has a 12 month low of $51.11 and a 12 month high of $102.44. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The company has a market cap of $18.31 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87. The company has a fifty day moving average price of $63.92 and a 200 day moving average price of $73.55.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. LyondellBasell Industries’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter last year, the company posted $1.53 EPS. Sell-side analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 annualized dividend and a dividend yield of 9.41%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 165.43%.

Insider Activity

In other news, Director Michael Sean Hanley acquired 3,750 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, with a total value of $270,187.50. Following the purchase, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This represents a 30.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

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.