Moors & Cabot Inc. reduced its position in shares of LyondellBasell Industries (NYSE:LYB – Free Report) by 27.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,585 shares of the specialty chemicals company’s stock after selling 967 shares during the period. Moors & Cabot Inc.’s holdings in LyondellBasell Industries were worth $237,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of LYB. Vanguard Group Inc. increased its stake in LyondellBasell Industries by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock worth $3,172,226,000 after purchasing an additional 335,124 shares in the last quarter. State Street Corp increased its stake in LyondellBasell Industries by 2.9% in the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock worth $1,266,977,000 after purchasing an additional 348,169 shares in the last quarter. FMR LLC increased its stake in LyondellBasell Industries by 27.6% in the 1st quarter. FMR LLC now owns 5,829,284 shares of the specialty chemicals company’s stock worth $547,312,000 after purchasing an additional 1,262,433 shares in the last quarter. Morgan Stanley increased its stake in LyondellBasell Industries by 0.6% in the 4th quarter. Morgan Stanley now owns 5,564,134 shares of the specialty chemicals company’s stock worth $461,990,000 after purchasing an additional 34,064 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in LyondellBasell Industries by 4.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,507,138 shares of the specialty chemicals company’s stock worth $505,720,000 after purchasing an additional 249,276 shares in the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.
LyondellBasell Industries Stock Performance
Shares of NYSE LYB opened at $96.35 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average is $93.94 and its two-hundred day moving average is $93.44. The company has a market cap of $31.25 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.40 and a beta of 1.19. LyondellBasell Industries has a 12 month low of $79.20 and a 12 month high of $102.04.
LyondellBasell Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Stockholders of record on Monday, November 27th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Friday, November 24th. LyondellBasell Industries’s dividend payout ratio is presently 71.63%.
Analysts Set New Price Targets
LYB has been the subject of a number of research reports. Citigroup upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $104.00 to $106.00 in a research report on Tuesday, October 3rd. StockNews.com began coverage on LyondellBasell Industries in a report on Thursday, October 5th. They set a “buy” rating for the company. Wells Fargo & Company lifted their price target on LyondellBasell Industries from $100.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Bank of America upgraded LyondellBasell Industries from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $99.00 to $107.00 in a report on Wednesday, October 18th. Finally, Piper Sandler reduced their price target on LyondellBasell Industries from $112.00 to $108.00 and set an “overweight” rating for the company in a report on Wednesday, October 11th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.07.
In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total value of $975,600.00. Following the sale, the executive vice president now owns 49,876 shares of the company’s stock, valued at approximately $4,865,902.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.12% of the stock is currently owned by company insiders.
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.
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