LyondellBasell Industries (NYSE:LYB) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in LyondellBasell Industries (NYSE:LYB) by 7.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 214,662 shares of the specialty chemicals company’s stock after selling 16,590 shares during the quarter. Truist Financial Corp’s holdings in LyondellBasell Industries were worth $20,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in LYB. Vanguard Group Inc. grew its stake in shares of LyondellBasell Industries by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 31,223,459 shares of the specialty chemicals company’s stock worth $2,968,726,000 after purchasing an additional 290,401 shares in the last quarter. Pacer Advisors Inc. boosted its stake in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after buying an additional 579,300 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in LyondellBasell Industries by 3.8% during the second quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after acquiring an additional 170,464 shares during the period. Capital World Investors raised its position in LyondellBasell Industries by 28.9% in the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock worth $273,671,000 after acquiring an additional 600,554 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of LyondellBasell Industries by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company’s stock valued at $101,886,000 after purchasing an additional 6,760 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

LYB stock opened at $94.87 on Friday. The firm has a market cap of $30.89 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 1.29 and a beta of 1.07. LyondellBasell Industries has a 12-month low of $88.46 and a 12-month high of $107.02. The company has a quick ratio of 1.28, a current ratio of 2.10 and a debt-to-equity ratio of 0.82. The company’s fifty day simple moving average is $95.96 and its 200 day simple moving average is $97.72.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm had revenue of $10.56 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, analysts expect that LyondellBasell Industries will post 7.94 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 26th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s dividend payout ratio (DPR) is 82.84%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on LYB shares. UBS Group lowered their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 9th. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, September 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $107.27.

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.