Sanibel Captiva Trust Company Inc. Sells 2,207 Shares of LyondellBasell Industries (NYSE:LYB)

Sanibel Captiva Trust Company Inc. cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 22.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,664 shares of the specialty chemicals company’s stock after selling 2,207 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in LyondellBasell Industries were worth $540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LYB. Lazard Asset Management LLC lifted its stake in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 214 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth $37,000. Covestor Ltd increased its holdings in shares of LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 284 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of LyondellBasell Industries by 127.9% during the first quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company’s stock worth $61,000 after buying an additional 486 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of LyondellBasell Industries by 223.3% during the first quarter. UMB Bank n.a. now owns 928 shares of the specialty chemicals company’s stock worth $65,000 after buying an additional 641 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LYB has been the subject of several research analyst reports. Wall Street Zen downgraded shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a report on Monday, April 28th. BMO Capital Markets decreased their price objective on LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating for the company in a report on Wednesday, April 30th. Fermium Researc upgraded LyondellBasell Industries to a “strong-buy” rating in a report on Friday, April 25th. UBS Group restated a “sell” rating and issued a $51.00 price objective (down from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Finally, Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. 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 issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $69.75.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $61.14 on Thursday. 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 business has a 50-day moving average price of $57.44 and a two-hundred day moving average price of $69.19. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $100.46. The company has a market cap of $19.65 billion, a P/E ratio of 14.77, a PEG ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly 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). The business had revenue of $7.68 billion for 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 business’s revenue was down 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.53 earnings per share. As a group, analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.96%. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s dividend payout ratio is 169.14%.

LyondellBasell Industries Company 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.