Ascent Group LLC Decreases Holdings in LyondellBasell Industries (NYSE:LYB)

Ascent Group LLC decreased its position in shares of LyondellBasell Industries (NYSE:LYB) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,763 shares of the specialty chemicals company’s stock after selling 2,273 shares during the period. Ascent Group LLC’s holdings in LyondellBasell Industries were worth $1,319,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vident Advisory LLC lifted its position in LyondellBasell Industries by 0.8% during the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock valued at $1,197,000 after acquiring an additional 131 shares during the last quarter. Webster Bank N. A. lifted its position in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Cairn Investment Group Inc. lifted its position in LyondellBasell Industries by 0.4% during the fourth quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock valued at $3,130,000 after acquiring an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT lifted its position in LyondellBasell Industries by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock valued at $268,000 after acquiring an additional 177 shares during the last quarter. Finally, Y.D. More Investments Ltd increased its stake in LyondellBasell Industries by 14.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Michael Sean Hanley purchased 3,750 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average cost 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Monday, April 28th. The Goldman Sachs Group cut their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. Piper Sandler cut 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. Citigroup cut their price target on shares of 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, Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.75.

LyondellBasell Industries Stock Down 0.4%

NYSE:LYB opened at $56.13 on Tuesday. The firm has a market capitalization of $18.04 billion, a P/E ratio of 13.56, a PEG ratio of 0.97 and a beta of 0.87. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $100.46. The company’s fifty day moving average price is $60.28 and its 200-day moving average price is $71.17. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data 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). The business had revenue of $7.68 billion during the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The firm’s revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.53 EPS. As a group, equities research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be issued a dividend of $1.37 per share. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a yield of 9.76%. LyondellBasell Industries’s dividend 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.