The Manufacturers Life Insurance Company Reduces Stock Position in LyondellBasell Industries (NYSE:LYB)

The Manufacturers Life Insurance Company lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 989,025 shares of the specialty chemicals company’s stock after selling 21,118 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in LyondellBasell Industries were worth $94,847,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of LYB. BOKF NA increased its holdings in LyondellBasell Industries by 83.3% in the first quarter. BOKF NA now owns 638 shares of the specialty chemicals company’s stock valued at $65,000 after buying an additional 290 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of LyondellBasell Industries by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 348,692 shares of the specialty chemicals company’s stock worth $35,665,000 after purchasing an additional 3,583 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of LyondellBasell Industries by 0.9% during the first quarter. Janus Henderson Group PLC now owns 60,613 shares of the specialty chemicals company’s stock worth $6,197,000 after purchasing an additional 559 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of LyondellBasell Industries by 1.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,100 shares of the specialty chemicals company’s stock worth $956,000 after purchasing an additional 166 shares during the last quarter. Finally, Beacon Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the first quarter worth about $28,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $83.04 on Thursday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The company has a market cap of $26.97 billion, a P/E ratio of 12.64, a PEG ratio of 2.35 and a beta of 1.08. LyondellBasell Industries has a 52 week low of $81.45 and a 52 week high of $107.02. The company has a 50-day moving average price of $89.36 and a 200 day moving average price of $93.92.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 EPS. Research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a $1.34 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 6.45%. LyondellBasell Industries’s payout ratio is currently 81.58%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LYB. Evercore ISI raised LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. Barclays dropped their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada dropped their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a report on Monday, November 4th. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Piper Sandler decreased their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $101.70.

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.