Mutual of America Capital Management LLC Trims Holdings in LyondellBasell Industries N.V. (NYSE:LYB)

Mutual of America Capital Management LLC decreased its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,140 shares of the specialty chemicals company’s stock after selling 980 shares during the quarter. Mutual of America Capital Management LLC’s holdings in LyondellBasell Industries were worth $2,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dodge & Cox raised its position in LyondellBasell Industries by 5.3% during the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after buying an additional 851,365 shares during the last quarter. Geode Capital Management LLC raised its position in LyondellBasell Industries by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock worth $512,913,000 after buying an additional 199,054 shares during the last quarter. Invesco Ltd. raised its position in LyondellBasell Industries by 13.5% during the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock worth $432,721,000 after buying an additional 694,055 shares during the last quarter. Franklin Resources Inc. raised its position in LyondellBasell Industries by 0.7% during the 4th quarter. Franklin Resources Inc. now owns 2,894,956 shares of the specialty chemicals company’s stock worth $215,008,000 after buying an additional 19,689 shares during the last quarter. Finally, Capital World Investors raised its position in LyondellBasell Industries by 11.0% during the 4th quarter. Capital World Investors now owns 2,891,609 shares of the specialty chemicals company’s stock worth $214,760,000 after buying an additional 287,028 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on LYB. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Wall Street Zen cut shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. Citigroup lowered their price target on shares of LyondellBasell Industries from $58.00 to $56.00 in a research note on Wednesday, June 11th. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Argus cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.00.

LyondellBasell Industries Trading Down 0.1%

NYSE LYB opened at $63.21 on Friday. LyondellBasell Industries N.V. has a one year low of $51.11 and a one year high of $100.46. The company’s 50 day moving average price is $59.51 and its 200 day moving average price is $66.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.83. The firm has a market capitalization of $20.32 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.70 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The firm had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.69 billion. LyondellBasell Industries had a net margin of 2.81% and a return on equity of 13.19%. The company’s revenue for the quarter was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 EPS. On average, sell-side analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 9th. Investors of record on Monday, June 2nd were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.67%. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s payout ratio is 169.14%.

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.