Global Wealth Management Investment Advisory Inc. reduced its holdings in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 18.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,220 shares of the specialty chemicals company’s stock after selling 6,316 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in LyondellBasell Industries were worth $2,343,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in LyondellBasell Industries by 205.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after buying an additional 2,995,335 shares in the last quarter. Prudential Financial Inc. increased its stake in LyondellBasell Industries by 171.0% during the third quarter. Prudential Financial Inc. now owns 1,348,644 shares of the specialty chemicals company’s stock valued at $101,525,000 after purchasing an additional 851,055 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of LyondellBasell Industries by 163.8% during the third quarter. Alliancebernstein L.P. now owns 1,231,389 shares of the specialty chemicals company’s stock worth $92,699,000 after purchasing an additional 764,671 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of LyondellBasell Industries by 139.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,306,806 shares of the specialty chemicals company’s stock worth $98,377,000 after buying an additional 762,051 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of LyondellBasell Industries by 39.6% in the 4th quarter. Pacer Advisors Inc. now owns 2,576,479 shares of the specialty chemicals company’s stock valued at $213,925,000 after buying an additional 730,986 shares during the period. Institutional investors and hedge funds own 91.12% of the company’s stock.
LyondellBasell Industries Price Performance
LYB stock traded down $3.39 during trading hours on Tuesday, hitting $90.13. 375,045 shares of the stock traded hands, compared to its average volume of 2,080,100. The stock has a 50-day simple moving average of $92.69 and a 200 day simple moving average of $89.08. The company has a market cap of $29.33 billion, a P/E ratio of 10.12, a P/E/G ratio of 1.27 and a beta of 1.21. LyondellBasell Industries has a one year low of $71.46 and a one year high of $117.22. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83.
LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.70. LyondellBasell Industries had a net margin of 7.71% and a return on equity of 32.96%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same quarter last year, the firm posted $4.00 EPS. The business’s revenue for the quarter was down 22.1% on a year-over-year basis. Equities analysts forecast that LyondellBasell Industries will post 9.01 earnings per share for the current year.
LyondellBasell Industries Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, March 6th were issued a $1.19 dividend. The ex-dividend date was Friday, March 3rd. This represents a $4.76 annualized dividend and a dividend yield of 5.28%. LyondellBasell Industries’s dividend payout ratio is currently 51.52%.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on LYB. KeyCorp raised their target price on shares of LyondellBasell Industries from $74.00 to $84.00 and gave the stock an “underweight” rating in a report on Tuesday, April 11th. StockNews.com began coverage on LyondellBasell Industries in a research note on Thursday, March 16th. They set a “hold” rating for the company. Piper Sandler raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $118.00 price target for the company in a report on Tuesday, April 11th. Wells Fargo & Company upped their price target on shares of LyondellBasell Industries from $97.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, Jefferies Financial Group downgraded shares of LyondellBasell Industries…
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