M&T Bank Corp Sells 367 Shares of LyondellBasell Industries (NYSE:LYB)

M&T Bank Corp trimmed its position in LyondellBasell Industries (NYSE:LYB) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,880 shares of the specialty chemicals company’s stock after selling 367 shares during the period. M&T Bank Corp’s holdings in LyondellBasell Industries were worth $2,080,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LYB. FMR LLC raised its stake in LyondellBasell Industries by 10.3% in the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after purchasing an additional 787,221 shares in the last quarter. Morgan Stanley raised its position in shares of LyondellBasell Industries by 9.9% during the 3rd quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock valued at $597,140,000 after buying an additional 569,887 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of LyondellBasell Industries by 4.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock worth $536,752,000 after acquiring an additional 217,461 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,650,680 shares of the specialty chemicals company’s stock worth $535,119,000 after acquiring an additional 143,542 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in LyondellBasell Industries by 24.9% during the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after purchasing an additional 815,083 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

LYB opened at $101.63 on Friday. The stock’s 50 day moving average price is $101.21 and its 200-day moving average price is $96.90. LyondellBasell Industries has a 52-week low of $84.80 and a 52-week high of $107.02. The stock has a market capitalization of $33.09 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. During the same period in the prior year, the business earned $2.50 EPS. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, equities research analysts predict that LyondellBasell Industries will post 8.5 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.92%. LyondellBasell Industries’s dividend payout ratio (DPR) is 77.28%.

Analyst Upgrades and Downgrades

LYB has been the topic of several recent research reports. BMO Capital Markets increased their price objective on LyondellBasell Industries from $99.00 to $105.00 and gave the company a “market perform” rating in a research report on Tuesday, April 30th. Barclays lifted their price target on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Citigroup lifted their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Mizuho upped their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $105.08.

Insider Transactions at LyondellBasell Industries

In related news, EVP Kenneth Todd Lane sold 9,489 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $98.92, for a total value of $938,651.88. Following the sale, the executive vice president now directly owns 89,445 shares of the company’s stock, valued at $8,847,899.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now owns 27,575 shares in the company, valued at approximately $2,770,460.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kenneth Todd Lane sold 9,489 shares of LyondellBasell Industries stock in a transaction on Monday, February 26th. The shares were sold at an average price of $98.92, for a total value of $938,651.88. Following the transaction, the executive vice president now owns 89,445 shares of the company’s stock, valued at approximately $8,847,899.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,853 shares of company stock valued at $8,077,267. Corporate insiders own 0.11% of the company’s stock.

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.