LyondellBasell Industries N.V. $LYB Holdings Decreased by Truist Financial Corp

Truist Financial Corp decreased its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 29.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,593 shares of the specialty chemicals company’s stock after selling 46,829 shares during the period. Truist Financial Corp’s holdings in LyondellBasell Industries were worth $6,572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of LyondellBasell Industries by 3,502.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company’s stock worth $141,893,000 after purchasing an additional 1,959,576 shares in the last quarter. HighTower Advisors LLC boosted its position in LyondellBasell Industries by 137.9% during the first quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company’s stock worth $123,907,000 after purchasing an additional 1,020,169 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock valued at $650,465,000 after purchasing an additional 657,443 shares during the last quarter. Nuveen LLC acquired a new stake in shares of LyondellBasell Industries in the first quarter worth $43,280,000. Finally, Invesco Ltd. grew its stake in LyondellBasell Industries by 10.4% in the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock valued at $452,852,000 after buying an additional 606,234 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 $48.72 on Tuesday. The stock has a market capitalization of $15.67 billion, a P/E ratio of 63.27 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The company’s 50 day simple moving average is $53.19 and its 200-day simple moving average is $57.67. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $96.52.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company’s revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 EPS. Sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s payout ratio is currently 711.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. Citigroup reduced their target price on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 2nd. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating for the company in a research report on Monday, August 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Saturday, September 27th. Finally, Rothschild & Co Redburn dropped their target price on LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, September 12th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $60.07.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares in the company, valued at $8,590,003.07. This trade represents a 11.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

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.