Federated Hermes Inc. Sells 508,661 Shares of LyondellBasell Industries (NYSE:LYB)

Federated Hermes Inc. decreased its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 10.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,209,783 shares of the specialty chemicals company’s stock after selling 508,661 shares during the period. LyondellBasell Industries accounts for about 0.7% of Federated Hermes Inc.’s holdings, making the stock its 23rd largest holding. Federated Hermes Inc.’s holdings in LyondellBasell Industries were worth $312,661,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LYB. Webster Bank N. A. raised its holdings in shares of LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in LyondellBasell Industries in the 4th quarter worth $37,000. Pinnacle Bancorp Inc. purchased a new stake in shares of LyondellBasell Industries in the 4th quarter worth about $59,000. Finally, Crews Bank & Trust bought a new stake in shares of LyondellBasell Industries during the 4th quarter valued at about $85,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Barclays lowered their target price on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 1st. Citigroup reduced their price target on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Royal Bank of Canada upped their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $82.33.

LyondellBasell Industries Trading Down 8.1 %

Shares of NYSE LYB opened at $57.98 on Friday. The company has a market cap of $18.75 billion, a PE ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The firm’s 50 day moving average price is $74.48 and its 200-day moving average price is $80.23. LyondellBasell Industries has a 52-week low of $57.57 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the prior year, the firm earned $1.26 earnings per share. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 9.24%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

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.