BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 6,404 Shares of LyondellBasell Industries (NYSE:LYB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 12.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 43,457 shares of the specialty chemicals company’s stock after selling 6,404 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in LyondellBasell Industries were worth $4,168,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of LYB. CVA Family Office LLC lifted its position 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 worth $25,000 after purchasing an additional 159 shares during the last quarter. Matrix Trust Co purchased a new position in LyondellBasell Industries in the 3rd quarter worth about $30,000. Blue Trust Inc. lifted its holdings in LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 227 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in LyondellBasell Industries in the 3rd quarter valued at about $31,000. Finally, Independence Bank of Kentucky grew its stake in LyondellBasell Industries by 125.6% in the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays lowered their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Piper Sandler dropped their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, November 4th. StockNews.com upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average target price of $101.70.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $80.78 on Wednesday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The firm has a market cap of $26.23 billion, a PE ratio of 12.30, a P/E/G ratio of 2.29 and a beta of 1.05. LyondellBasell Industries has a 12 month low of $80.62 and a 12 month high of $107.02. The stock has a fifty day moving average price of $88.34 and a 200-day moving average price of $93.35.

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

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued 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 dividend yield of 6.64%. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

About LyondellBasell Industries

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.