Citizens Business Bank Cuts Stock Position in LyondellBasell Industries (NYSE:LYB)

Citizens Business Bank cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,080 shares of the specialty chemicals company’s stock after selling 1,190 shares during the quarter. Citizens Business Bank’s holdings in LyondellBasell Industries were worth $3,526,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. increased its holdings in LyondellBasell Industries by 35.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after buying an additional 935,430 shares during the last quarter. Invesco Ltd. increased its stake in shares of LyondellBasell Industries by 24.9% during the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after purchasing an additional 815,083 shares during the last quarter. FMR LLC raised its holdings in shares of LyondellBasell Industries by 10.3% in the 3rd quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after purchasing an additional 787,221 shares during the period. ANTIPODES PARTNERS Ltd purchased a new position in LyondellBasell Industries in the third quarter valued at approximately $67,160,000. Finally, Bank of Nova Scotia lifted its stake in LyondellBasell Industries by 3,162.5% in the third quarter. Bank of Nova Scotia now owns 614,259 shares of the specialty chemicals company’s stock valued at $58,170,000 after purchasing an additional 595,431 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LYB. Royal Bank of Canada boosted their target price on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Citigroup upped their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. BMO Capital Markets lifted their target price on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday. Finally, Wolfe Research started coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They set an “underperform” rating on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $104.75.

Insider Transactions at LyondellBasell Industries

In related news, EVP Kenneth Todd Lane sold 29,229 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total value of $2,899,224.51. Following the completion of the transaction, the executive vice president now directly owns 91,758 shares in the company, valued at $9,101,476.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction on Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now owns 12,276 shares in the company, valued at approximately $1,233,246.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $99.19, for a total value of $2,899,224.51. Following the completion of the sale, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at approximately $9,101,476.02. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock valued at $8,077,267 in the last quarter. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock traded down $1.73 during trading on Tuesday, hitting $99.97. The stock had a trading volume of 2,316,160 shares, compared to its average volume of 1,933,599. The firm has a market cap of $32.53 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.25 and a beta of 1.19. LyondellBasell Industries has a 12 month low of $84.80 and a 12 month high of $106.69. The business’s 50-day moving average is $100.95 and its 200 day moving average is $96.58. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. During the same quarter last year, the firm posted $2.50 EPS. The company’s revenue was down 3.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 8.69 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were paid a $1.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a yield of 5.00%. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

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.