22,342 LyondellBasell Industries N.V. $LYB Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. decreased its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 47.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,609 shares of the specialty chemicals company’s stock after selling 22,342 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in LyondellBasell Industries were worth $1,414,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of LyondellBasell Industries by 16.7% in the second quarter. BlackRock Inc. now owns 29,298,859 shares of the specialty chemicals company’s stock valued at $1,542,585,000 after acquiring an additional 4,185,571 shares in the last quarter. State Street Corp grew its holdings in LyondellBasell Industries by 9.1% during the 2nd quarter. State Street Corp now owns 14,734,948 shares of the specialty chemicals company’s stock worth $775,795,000 after acquiring an additional 1,225,833 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in LyondellBasell Industries by 734.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 884,436 shares of the specialty chemicals company’s stock worth $46,566,000 after acquiring an additional 778,459 shares in the last quarter. Royal Bank of Canada increased its position in LyondellBasell Industries by 23.0% during the 1st quarter. Royal Bank of Canada now owns 3,534,647 shares of the specialty chemicals company’s stock valued at $284,750,000 after purchasing an additional 660,340 shares during the period. Finally, Bank of America Corp DE increased its position in LyondellBasell Industries by 46.7% during the 1st quarter. Bank of America Corp DE now owns 1,547,735 shares of the specialty chemicals company’s stock valued at $124,686,000 after purchasing an additional 492,753 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upgraded shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $75.00 to $80.00 in a report on Monday, August 3rd. Mizuho increased their price objective on shares of LyondellBasell Industries from $62.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings lowered shares of LyondellBasell Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 26th. Wall Street Zen lowered shares of LyondellBasell Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Finally, KeyCorp assumed coverage on shares of LyondellBasell Industries in a research note on Thursday, September 10th. They issued a “sector weight” rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat, LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $71.50.

LyondellBasell Industries Price Performance

Shares of LYB opened at $62.69 on Friday. The firm has a market capitalization of $20.25 billion, a PE ratio of 11.04, a price-to-earnings-growth ratio of 0.16 and a beta of 0.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07. LyondellBasell Industries N.V. has a 1-year low of $41.58 and a 1-year high of $83.94. The company’s fifty day moving average price is $62.36 and its 200-day moving average price is $64.73.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a positive return on equity of 17.44% and a negative net margin of 1.13%. The firm’s quarterly revenue was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. On average, equities research analysts predict that LyondellBasell Industries N.V. will post 9.17 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 24th were paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries’s payout ratio is presently -244.25%.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company’s products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.