Freedom Investment Management Inc. Sells 413 Shares of LyondellBasell Industries (NYSE:LYB)

Freedom Investment Management Inc. trimmed its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 4.4% during the 3rd quarter, Holdings Channel reports. The fund owned 9,023 shares of the specialty chemicals company’s stock after selling 413 shares during the period. Freedom Investment Management Inc.’s holdings in LyondellBasell Industries were worth $865,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC boosted its stake in shares of LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares in the last quarter. Matrix Trust Co bought a new stake in LyondellBasell Industries during the 3rd quarter valued at $30,000. Blue Trust Inc. increased its holdings in shares of LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of LyondellBasell Industries in the 3rd quarter worth $31,000. Finally, Independence Bank of Kentucky lifted its stake in shares of LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE LYB opened at $83.04 on Friday. The stock’s fifty day moving average price is $89.09 and its 200 day moving average price is $93.84. LyondellBasell Industries has a 1 year low of $81.45 and a 1 year high of $107.02. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a market cap of $26.97 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.35 and a beta of 1.08.

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

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 81.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LYB shares. StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, November 22nd. Evercore ISI upgraded shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Barclays lowered their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft reduced their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Finally, Piper Sandler lowered their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. One equities research 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. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.