Ontario Teachers Pension Plan Board Reduces Stock Position in LyondellBasell Industries (NYSE:LYB)

Ontario Teachers Pension Plan Board trimmed its position in LyondellBasell Industries (NYSE:LYB) by 85.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,265 shares of the specialty chemicals company’s stock after selling 18,872 shares during the period. Ontario Teachers Pension Plan Board’s holdings in LyondellBasell Industries were worth $307,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brandywine Global Investment Management LLC lifted its stake in shares of LyondellBasell Industries by 36.0% during the first quarter. Brandywine Global Investment Management LLC now owns 488,020 shares of the specialty chemicals company’s stock valued at $45,820,000 after buying an additional 129,195 shares during the period. Raleigh Capital Management Inc. boosted its holdings in shares of LyondellBasell Industries by 106.1% during the first quarter. Raleigh Capital Management Inc. now owns 18,802 shares of the specialty chemicals company’s stock worth $1,765,000 after purchasing an additional 9,679 shares during the last quarter. Putnam Investments LLC grew its position in shares of LyondellBasell Industries by 13.7% in the first quarter. Putnam Investments LLC now owns 41,013 shares of the specialty chemicals company’s stock valued at $3,851,000 after purchasing an additional 4,935 shares during the period. JPMorgan Chase & Co. lifted its position in LyondellBasell Industries by 250.7% during the first quarter. JPMorgan Chase & Co. now owns 4,331,930 shares of the specialty chemicals company’s stock worth $406,726,000 after buying an additional 3,096,710 shares during the period. Finally, B. Riley Wealth Advisors Inc. boosted its stake in LyondellBasell Industries by 11.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,460 shares of the specialty chemicals company’s stock worth $982,000 after buying an additional 1,069 shares during the last quarter. 91.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on LYB. Barclays dropped their price objective on shares of LyondellBasell Industries from $100.00 to $95.00 in a research note on Tuesday, July 11th. Wells Fargo & Company lifted their target price on LyondellBasell Industries from $100.00 to $109.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Bank of America lifted their price objective on LyondellBasell Industries from $92.00 to $99.00 in a research note on Monday, August 7th. Finally, BMO Capital Markets raised their price target on shares of LyondellBasell Industries from $102.00 to $104.00 in a report on Thursday, June 1st. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $100.06.

Insider Activity

In related news, major shareholder Ai Investments Holdings Llc sold 483 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $99.61, for a total value of $48,111.63. Following the completion of the sale, the insider now directly owns 765,996 shares of the company’s stock, valued at $76,300,861.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total transaction of $975,600.00. Following the sale, the executive vice president now owns 49,876 shares in the company, valued at $4,865,902.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ai Investments Holdings Llc sold 483 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $99.61, for a total value of $48,111.63. Following the completion of the transaction, the insider now owns 765,996 shares of the company’s stock, valued at $76,300,861.56. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

LyondellBasell Industries Stock Down 0.6 %

Shares of LyondellBasell Industries stock opened at $100.04 on Monday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.81 and a quick ratio of 1.07. LyondellBasell Industries has a 1-year low of $71.46 and a 1-year high of $102.04. The business has a 50-day moving average of $96.72 and a 200-day moving average of $93.01. The company has a market capitalization of $32.43 billion, a PE ratio of 15.53, a P/E/G ratio of 2.56 and a beta of 1.21.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 4th. The specialty chemicals company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.14. The company had revenue of $10.31 billion for the quarter, compared to the consensus estimate of $10.79 billion. LyondellBasell Industries had a return on equity of 21.31% and a net margin of 4.92%. LyondellBasell Industries’s revenue for the quarter was down 30.5% compared to the same quarter last year. During the same period in the previous year, the business earned $5.19 EPS. As a group, equities analysts forecast that LyondellBasell Industries will post 8.06 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 28th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, August 25th. This represents a $5.00 dividend on an annualized basis and a yield of 5.00%. LyondellBasell Industries’s dividend payout ratio (DPR) is 77.64%.

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.