LyondellBasell Industries (NYSE:LYB) Shares Sold by Leo Wealth LLC

Leo Wealth LLC trimmed its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 18.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,142 shares of the specialty chemicals company’s stock after selling 733 shares during the quarter. Leo Wealth LLC’s holdings in LyondellBasell Industries were worth $301,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Rockland Trust Co. increased its position in shares of LyondellBasell Industries by 0.9% during the 3rd quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after purchasing an additional 112 shares during the last quarter. Petredis Investment Advisors LLC increased its position in shares of LyondellBasell Industries by 0.5% during the 3rd quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after purchasing an additional 116 shares during the last quarter. Verdence Capital Advisors LLC increased its position in shares of LyondellBasell Industries by 0.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 120 shares during the last quarter. RDA Financial Network increased its position in shares of LyondellBasell Industries by 3.9% during the 2nd quarter. RDA Financial Network now owns 3,274 shares of the specialty chemicals company’s stock worth $313,000 after purchasing an additional 122 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in LyondellBasell Industries by 25.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after acquiring an additional 122 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on LYB shares. Wells Fargo & Company dropped their target price on LyondellBasell Industries from $117.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. dropped their target price on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, September 13th. Barclays dropped their target price on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. UBS Group dropped their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $106.33.

LyondellBasell Industries Price Performance

LYB stock opened at $89.50 on Wednesday. The business has a 50 day moving average price of $95.07 and a 200 day moving average price of $96.80. The stock has a market cap of $29.14 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.32 and a beta of 1.07. LyondellBasell Industries has a fifty-two week low of $88.46 and a fifty-two week 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.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, August 2nd. The specialty chemicals company reported $2.24 earnings per share for the quarter, topping the consensus estimate of $2.23 by $0.01. The firm had revenue of $10.56 billion during the quarter, compared to analysts’ expectations of $10.44 billion. LyondellBasell Industries had a return on equity of 18.63% and a net margin of 5.68%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 earnings per share. Equities research analysts anticipate that LyondellBasell Industries will post 7.8 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 82.84%.

LyondellBasell Industries 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.