Legal & General Group Plc Decreases Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Legal & General Group Plc lessened its holdings in LyondellBasell Industries (NYSE:LYBFree Report) by 3.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,534,325 shares of the specialty chemicals company’s stock after selling 54,802 shares during the quarter. Legal & General Group Plc owned 0.47% of LyondellBasell Industries worth $145,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Valley National Advisers Inc. bought a new position in shares of LyondellBasell Industries during the 3rd quarter worth $25,000. Compass Wealth Management LLC purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $25,000. Intrepid Capital Management Inc. purchased a new stake in LyondellBasell Industries in the 2nd quarter worth approximately $26,000. FSC Wealth Advisors LLC bought a new position in LyondellBasell Industries in the 3rd quarter valued at $26,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of LyondellBasell Industries in the third quarter worth $26,000. 91.41% of the stock is currently owned by institutional investors.

Insider Activity at LyondellBasell Industries

In other news, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $100.47, for a total transaction of $711,729.48. Following the sale, the chief accounting officer now directly owns 27,575 shares of the company’s stock, valued at approximately $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following 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 sold a total of 45,802 shares of company stock valued at $4,549,606 in the last three months. Company insiders own 0.12% of the company’s stock.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $99.01 on Friday. LyondellBasell Industries has a fifty-two week low of $81.24 and a fifty-two week high of $102.93. The stock’s 50 day simple moving average is $96.11 and its two-hundred day simple moving average is $95.34. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.20 and a beta of 1.19.

LyondellBasell Industries (NYSE:LYBGet Free Report) last released its quarterly earnings results on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.07). The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.85 billion. LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.29 earnings per share. As a group, analysts expect that LyondellBasell Industries will post 8.86 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Monday, March 4th will be paid a $1.25 dividend. The ex-dividend date is Friday, March 1st. This represents a $5.00 annualized dividend and a dividend yield of 5.05%. LyondellBasell Industries’s payout ratio is 77.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LYB shares. Vertical Research raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a research note on Wednesday, January 10th. Royal Bank of Canada restated an “outperform” rating and set a $107.00 price objective on shares of LyondellBasell Industries in a research report on Monday, February 5th. Barclays cut their target price on shares of LyondellBasell Industries from $102.00 to $98.00 and set an “equal weight” rating for the company in a research report on Monday, February 5th. Finally, Citigroup lowered LyondellBasell Industries from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $105.00 to $98.00 in a research note on Wednesday, December 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $100.92.

Read Our Latest Analysis on LyondellBasell Industries

LyondellBasell Industries Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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