Korea Investment CORP Sells 38,668 Shares of LyondellBasell Industries (NYSE:LYB)

Korea Investment CORP trimmed its holdings in LyondellBasell Industries (NYSE:LYB) by 17.4% in the 4th quarter, HoldingsChannel reports. The firm owned 184,040 shares of the specialty chemicals company’s stock after selling 38,668 shares during the quarter. Korea Investment CORP’s holdings in LyondellBasell Industries were worth $13,669,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Webster Bank N. A. increased its holdings in LyondellBasell Industries by 70.4% in the 4th 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 during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in shares of 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 last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $37,000. Pinnacle Bancorp Inc. purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $59,000. Finally, Crews Bank & Trust bought a new position in LyondellBasell Industries during the fourth quarter valued at approximately $85,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley purchased 3,750 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Piper Sandler decreased their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Barclays decreased their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Mizuho lowered their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $88.25.

LyondellBasell Industries Trading Down 1.6 %

Shares of NYSE LYB opened at $69.81 on Monday. The business’s 50 day moving average price is $75.58 and its 200-day moving average price is $81.11. LyondellBasell Industries has a fifty-two week low of $69.74 and a fifty-two week high of $107.02. 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 company has a market cap of $22.58 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 0.97 and a beta of 1.06.

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

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $1.34 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 7.68%. LyondellBasell Industries’s dividend payout ratio (DPR) is 129.47%.

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.