LyondellBasell Industries (NYSE:LYB) Stake Reduced by Fiduciary Trust Co

Fiduciary Trust Co lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 12.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,882 shares of the specialty chemicals company’s stock after selling 5,736 shares during the period. Fiduciary Trust Co’s holdings in LyondellBasell Industries were worth $3,729,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC raised its holdings in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares during the period. Matrix Trust Co acquired a new stake in LyondellBasell Industries during the 3rd quarter worth about $30,000. Blue Trust Inc. raised 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 worth $31,000 after buying an additional 227 shares during the period. Ashton Thomas Securities LLC acquired a new stake in LyondellBasell Industries during the 3rd quarter worth about $31,000. Finally, Independence Bank of Kentucky raised its holdings in 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 buying an additional 216 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 1.1 %

NYSE:LYB opened at $83.04 on Friday. The stock’s 50 day moving average price is $89.09 and its 200 day moving average price is $93.84. LyondellBasell Industries has a 52 week low of $81.45 and a 52 week high of $107.02. The company has a market capitalization of $26.97 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.32 and a beta of 1.08. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the business earned $2.46 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, research analysts forecast that LyondellBasell Industries will post 7.09 EPS 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 dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.45%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank of Canada lowered their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Mizuho lowered their target price on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft lowered their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company lowered their target price on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price 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.