M&T Bank Corp Cuts Stake in LyondellBasell Industries (NYSE:LYB)

M&T Bank Corp decreased its position in LyondellBasell Industries (NYSE:LYB) by 0.8% during the 3rd quarter, Holdings Channel reports. The fund owned 19,280 shares of the specialty chemicals company’s stock after selling 146 shares during the quarter. M&T Bank Corp’s holdings in LyondellBasell Industries were worth $1,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC boosted its holdings in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares in the last quarter. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at approximately $30,000. Blue Trust Inc. boosted its stake in shares of LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in LyondellBasell Industries during the third quarter worth $31,000. Finally, Independence Bank of Kentucky raised its position in LyondellBasell Industries by 125.6% in the second quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 216 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LYB. The Goldman Sachs Group lowered their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday. Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Wells Fargo & Company decreased their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 10th. Finally, StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday, November 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $97.36.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $75.67 on Friday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a fifty-two week low of $74.92 and a fifty-two week high of $107.02. The business has a fifty day moving average of $85.32 and a 200-day moving average of $92.16. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $2.46 earnings per share. As a group, analysts predict that LyondellBasell Industries will post 7.02 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.08%. LyondellBasell Industries’s payout ratio is currently 81.58%.

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.