LyondellBasell Industries (NYSE:LYB) Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. decreased its position in LyondellBasell Industries (NYSE:LYB) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,846 shares of the specialty chemicals company’s stock after selling 619 shares during the period. Wedbush Securities Inc.’s holdings in LyondellBasell Industries were worth $211,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Amundi increased its position in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after acquiring an additional 1,260,913 shares during the period. Norges Bank acquired a new position in shares of LyondellBasell Industries during the fourth quarter valued at $81,015,000. Raymond James Financial Inc. bought a new stake in shares of LyondellBasell Industries during the fourth quarter valued at about $69,115,000. Wellington Management Group LLP lifted its holdings in LyondellBasell Industries by 35.9% in the fourth quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company’s stock worth $213,204,000 after purchasing an additional 757,612 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after buying an additional 558,137 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 9.3 %

NYSE:LYB opened at $54.27 on Friday. The stock has a fifty day simple moving average of $71.97 and a 200 day simple moving average of $78.72. The firm has a market capitalization of $17.55 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the previous year, the company earned $1.26 earnings per share. Sell-side analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 9.88%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 129.47%.

Insider Activity

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $60.00 price target (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. UBS Group reissued a “sell” rating and set a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday. Morgan Stanley cut their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Royal Bank of Canada downgraded LyondellBasell Industries from an “outperform” rating to a “sector perform” rating and set a $62.00 price objective on the stock. in a research note on Wednesday. Finally, Piper Sandler decreased their target price on LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $76.50.

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.