Hsbc Holdings PLC Sells 39,287 Shares of LyondellBasell Industries N.V. $LYB

Hsbc Holdings PLC trimmed its position in LyondellBasell Industries N.V. (NYSE:LYB) by 26.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,959 shares of the specialty chemicals company’s stock after selling 39,287 shares during the period. Hsbc Holdings PLC’s holdings in LyondellBasell Industries were worth $6,290,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in LYB. Charles Schwab Investment Management Inc. boosted its position in shares of LyondellBasell Industries by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 9,476,600 shares of the specialty chemicals company’s stock worth $548,316,000 after purchasing an additional 237,038 shares in the last quarter. Geode Capital Management LLC boosted its holdings in LyondellBasell Industries by 0.4% in the second quarter. Geode Capital Management LLC now owns 6,824,462 shares of the specialty chemicals company’s stock worth $395,486,000 after acquiring an additional 24,161 shares in the last quarter. Invesco Ltd. grew its stake in shares of LyondellBasell Industries by 10.4% during the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock worth $452,852,000 after acquiring an additional 606,234 shares during the last quarter. Soundwatch Capital LLC purchased a new position in shares of LyondellBasell Industries in the 2nd quarter valued at approximately $268,123,000. Finally, JPMorgan Chase & Co. boosted its stake in LyondellBasell Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company’s stock worth $316,113,000 after purchasing an additional 509,996 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other LyondellBasell Industries news, EVP Kimberly A. Foley acquired 5,661 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was acquired at an average cost of $43.56 per share, for a total transaction of $246,593.16. Following the completion of the transaction, the executive vice president directly owned 67,688 shares of the company’s stock, valued at $2,948,489.28. This represents a 9.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Bank of America cut their price target on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Weiss Ratings reissued a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. UBS Group lowered their price target on LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating for the company in a research report on Monday, October 6th. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, November 3rd. Finally, Wall Street Zen cut LyondellBasell Industries from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.19.

LyondellBasell Industries Stock Performance

LYB opened at $43.10 on Friday. The firm has a fifty day moving average price of $46.26 and a 200 day moving average price of $53.40. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $79.39. The stock has a market cap of $13.87 billion, a P/E ratio of -11.49 and a beta of 0.71. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. The company had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.41 billion. LyondellBasell Industries had a negative net margin of 3.70% and a positive return on equity of 7.50%. The firm’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.88 earnings per share. Equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, December 1st will be given a dividend of $1.37 per share. The ex-dividend date is Monday, December 1st. This represents a $5.48 dividend on an annualized basis and a yield of 12.7%. LyondellBasell Industries’s dividend payout ratio is currently -146.13%.

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.