M&G Plc Lowers Stake in LyondellBasell Industries (NYSE:LYB)

M&G Plc lessened its stake in LyondellBasell Industries (NYSE:LYB) by 7.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,768 shares of the specialty chemicals company’s stock after selling 942 shares during the period. M&G Plc’s holdings in LyondellBasell Industries were worth $1,130,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Capital World Investors raised its stake in shares of LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company’s stock valued at $273,671,000 after acquiring an additional 600,554 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in LyondellBasell Industries during the 1st quarter valued at $61,327,000. Pacer Advisors Inc. lifted its holdings in shares of LyondellBasell Industries by 13.6% in the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock worth $461,930,000 after buying an additional 579,300 shares during the period. Ensign Peak Advisors Inc grew its position in shares of LyondellBasell Industries by 80.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock worth $74,523,000 after buying an additional 347,877 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of LyondellBasell Industries during the second quarter valued at $17,683,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 2.3 %

LyondellBasell Industries stock opened at $85.29 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The stock has a market cap of $27.70 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 2.39 and a beta of 1.08. The stock has a 50-day moving average of $92.32 and a two-hundred day moving average of $95.54. LyondellBasell Industries has a one year low of $83.36 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $2.46 earnings per share. On average, research analysts anticipate that LyondellBasell Industries will post 7.16 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were paid a dividend of $1.34 per share. The ex-dividend date was Monday, August 26th. This represents a $5.36 annualized dividend and a dividend yield of 6.28%. LyondellBasell Industries’s payout ratio is currently 81.58%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LYB. Deutsche Bank Aktiengesellschaft lowered 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 note on Monday, November 4th. Mizuho dropped their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $101.70.

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.