Fifth Third Bancorp Lowers Holdings in LyondellBasell Industries (NYSE:LYB)

Fifth Third Bancorp lowered its stake in shares of LyondellBasell Industries (NYSE:LYBFree Report) by 41.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 19,789 shares of the specialty chemicals company’s stock after selling 14,076 shares during the period. Fifth Third Bancorp’s holdings in LyondellBasell Industries were worth $1,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LYB. State Street Corp boosted its position in LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after purchasing an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after buying an additional 362,671 shares during the period. Geode Capital Management LLC increased its holdings in LyondellBasell Industries by 4.4% in the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after buying an additional 277,108 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after acquiring an additional 187,150 shares during the period. Finally, Franklin Resources Inc. boosted its stake in shares of LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after acquiring an additional 293,622 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYB. Wells Fargo & Company cut their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, December 10th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price target on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Finally, Royal Bank of Canada dropped their target price on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $94.33.

Get Our Latest Stock Report on LyondellBasell Industries

Insider Activity

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the acquisition, the director now owns 18,175 shares in the company, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

LyondellBasell Industries Trading Down 0.5 %

LYB opened at $78.29 on Wednesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company’s 50 day simple moving average is $76.93 and its two-hundred day simple moving average is $87.68. The firm has a market capitalization of $25.42 billion, a price-to-earnings ratio of 11.92, a price-to-earnings-growth ratio of 5.07 and a beta of 1.06. LyondellBasell Industries has a 1-year low of $72.21 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYBGet Free Report) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the firm posted $2.46 EPS. The business’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts expect that LyondellBasell Industries will post 6.48 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.85%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

About LyondellBasell Industries

(Free Report)

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.

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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