LyondellBasell Industries (NYSE:LYB) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in LyondellBasell Industries (NYSE:LYB) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,083 shares of the specialty chemicals company’s stock after selling 414 shares during the period. D.A. Davidson & CO.’s holdings in LyondellBasell Industries were worth $967,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CVA Family Office LLC increased its stake in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 159 shares in the last quarter. Matrix Trust Co purchased a new position in shares of LyondellBasell Industries in the third quarter valued at $30,000. Blue Trust Inc. raised its stake in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 227 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of LyondellBasell Industries during the 3rd quarter worth $31,000. Finally, Independence Bank of Kentucky grew its stake in LyondellBasell Industries by 125.6% in the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after acquiring an additional 216 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Up 0.4 %

Shares of NYSE:LYB opened at $83.34 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The firm has a market cap of $27.07 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 2.33 and a beta of 1.08. The stock’s 50-day moving average price is $88.88 and its two-hundred day moving average price is $93.62. LyondellBasell Industries has a 12-month low of $81.45 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. LyondellBasell Industries’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. On average, research analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.43%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 81.58%.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research reports. Mizuho cut their target price on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Piper Sandler cut their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft lowered their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Royal Bank of Canada cut their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Finally, StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.70.

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.