LyondellBasell Industries (NYSE:LYB) Stake Lessened by Torno Capital LLC

Torno Capital LLC trimmed its stake in shares of LyondellBasell Industries (NYSE:LYB) by 77.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,000 shares of the specialty chemicals company’s stock after selling 3,500 shares during the quarter. Torno Capital LLC’s holdings in LyondellBasell Industries were worth $74,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LYB. Barclays PLC raised its position in shares of LyondellBasell Industries by 7.3% during the 3rd quarter. Barclays PLC now owns 948,211 shares of the specialty chemicals company’s stock valued at $90,933,000 after acquiring an additional 64,359 shares in the last quarter. JPMorgan Chase & Co. increased its stake in LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of LyondellBasell Industries by 290.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 55,843 shares of the specialty chemicals company’s stock worth $4,147,000 after purchasing an additional 41,524 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of LyondellBasell Industries by 26.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 18,973 shares of the specialty chemicals company’s stock worth $1,409,000 after buying an additional 3,958 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of LyondellBasell Industries by 28.2% in the 4th quarter. Ritholtz Wealth Management now owns 5,130 shares of the specialty chemicals company’s stock valued at $381,000 after buying an additional 1,128 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 2.3%

Shares of NYSE:LYB opened at $59.75 on Friday. The company has a 50 day moving average of $62.28 and a 200-day moving average of $72.47. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a market cap of $19.20 billion, a P/E ratio of 14.43, a P/E/G ratio of 0.97 and a beta of 0.87. LyondellBasell Industries has a twelve month low of $51.11 and a twelve month high of $100.98.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The firm had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the company earned $1.53 earnings per share. The business’s revenue for the quarter was down 7.6% on a year-over-year basis. As a group, analysts anticipate that LyondellBasell Industries will post 6.31 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, March 17th. Investors of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 8.97%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 165.43%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LYB. Fermium Researc upgraded shares of LyondellBasell Industries to a “strong-buy” rating in a research note on Friday, April 25th. Wells Fargo & Company cut their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, April 4th. Royal Bank of Canada lowered their price objective on LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 29th. Citigroup cut their target price on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, StockNews.com lowered shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $69.75.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley purchased 3,750 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This represents a 30.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

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.