Bank of New York Mellon Corp Sells 44,011 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Bank of New York Mellon Corp trimmed its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 2.4% in the 1st quarter, Holdings Channel reports. The fund owned 1,763,011 shares of the specialty chemicals company’s stock after selling 44,011 shares during the quarter. Bank of New York Mellon Corp’s holdings in LyondellBasell Industries were worth $124,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of LYB. OneDigital Investment Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 36.8% in the first quarter. OneDigital Investment Advisors LLC now owns 5,003 shares of the specialty chemicals company’s stock worth $352,000 after buying an additional 1,345 shares in the last quarter. Aviance Capital Partners LLC boosted its stake in shares of LyondellBasell Industries by 23.1% during the first quarter. Aviance Capital Partners LLC now owns 34,973 shares of the specialty chemicals company’s stock valued at $2,462,000 after purchasing an additional 6,574 shares during the period. North Capital Inc. purchased a new stake in shares of LyondellBasell Industries during the first quarter valued at $64,000. D.A. Davidson & CO. boosted its stake in shares of LyondellBasell Industries by 36.3% during the first quarter. D.A. Davidson & CO. now owns 13,277 shares of the specialty chemicals company’s stock valued at $935,000 after purchasing an additional 3,533 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in LyondellBasell Industries by 5.4% in the first quarter. Principal Financial Group Inc. now owns 316,402 shares of the specialty chemicals company’s stock worth $22,275,000 after acquiring an additional 16,237 shares during the period. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB opened at $63.71 on Wednesday. The business’s 50-day moving average is $58.46 and its two-hundred day moving average is $66.70. The company has a market capitalization of $20.48 billion, a P/E ratio of 19.66, a P/E/G ratio of 2.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.83. LyondellBasell Industries N.V. has a fifty-two week low of $51.11 and a fifty-two week high of $100.46.

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

LyondellBasell Industries Increases Dividend

The firm also recently announced 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. The ex-dividend date was Monday, June 2nd. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 dividend on an annualized basis and a dividend yield of 8.60%. LyondellBasell Industries’s dividend payout ratio (DPR) is 169.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LYB shares. Wells Fargo & Company reduced their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Friday, April 4th. Royal Bank Of Canada upped their target price on LyondellBasell Industries from $61.00 to $64.00 and gave the company a “sector perform” rating in a research report on Thursday, July 3rd. The Goldman Sachs Group cut their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research report on Monday, April 28th. Piper Sandler cut their target price on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Finally, Citigroup cut their target price on LyondellBasell Industries from $58.00 to $56.00 in a research report on Wednesday, June 11th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $68.31.

About LyondellBasell Industries

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.