Highland Capital Management LLC Lowers Stake in LyondellBasell Industries (NYSE:LYB)

Highland Capital Management LLC lessened its position in LyondellBasell Industries (NYSE:LYB) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,875 shares of the specialty chemicals company’s stock after selling 1,030 shares during the quarter. Highland Capital Management LLC’s holdings in LyondellBasell Industries were worth $3,259,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CVA Family Office LLC lifted its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after purchasing an additional 159 shares during the last quarter. Webster Bank N. A. lifted its stake in shares of LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Matrix Trust Co purchased a new stake in LyondellBasell Industries during the 3rd quarter valued at about $30,000. Rosenberg Matthew Hamilton increased its stake in LyondellBasell Industries by 268.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after purchasing an additional 295 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of LyondellBasell Industries in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

LYB stock opened at $76.04 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 $76.76 and its 200-day moving average price is $87.49. 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 $24.69 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 5.07 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced 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). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. 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. Investors of record on Monday, December 2nd were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 7.05%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s payout ratio is presently 81.58%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LYB shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Mizuho decreased their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and set a $95.00 target price (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Finally, Barclays reduced their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and a consensus target price 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.