LyondellBasell Industries (NYSE:LYB) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 4.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 61,522 shares of the specialty chemicals company’s stock after selling 3,052 shares during the period. Corebridge Financial Inc.’s holdings in LyondellBasell Industries were worth $4,569,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Webster Bank N. A. increased its stake in shares of LyondellBasell Industries by 70.4% in the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 143 shares during the period. Cairn Investment Group Inc. grew its position in LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after purchasing an additional 155 shares during the period. Alliance Wealth Advisors LLC UT raised its stake in shares of LyondellBasell Industries by 5.2% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock valued at $268,000 after buying an additional 177 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of LyondellBasell Industries by 14.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock valued at $111,000 after buying an additional 194 shares during the period. Finally, Caprock Group LLC boosted its stake in shares of LyondellBasell Industries by 5.8% in the fourth quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company’s stock worth $298,000 after buying an additional 220 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Michael Sean Hanley purchased 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Down 1.6 %

LYB opened at $69.81 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a twelve month low of $69.74 and a twelve month high of $107.02. The company has a market cap of $22.58 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a 50-day moving average price of $75.58 and a 200 day moving average price of $81.11.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $1.26 EPS. Sell-side analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $1.34 per share. The ex-dividend date of this dividend 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 presently 129.47%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LYB. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Piper Sandler decreased their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Mizuho dropped their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. UBS Group decreased their price objective on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.25.

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.