LyondellBasell Industries (NYSE:LYB) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 2.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,285 shares of the specialty chemicals company’s stock after selling 6,075 shares during the quarter. Truist Financial Corp owned about 0.08% of LyondellBasell Industries worth $23,512,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $14,000,000. Invesco Ltd. grew its holdings in LyondellBasell Industries by 24.9% in the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after purchasing an additional 815,083 shares during the last quarter. Arvest Investments Inc. purchased a new position in LyondellBasell Industries during the 4th quarter valued at about $2,001,000. Oak Thistle LLC purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $1,426,000. Finally, Cerity Partners LLC increased its position in LyondellBasell Industries by 390.4% during the fourth quarter. Cerity Partners LLC now owns 77,917 shares of the specialty chemicals company’s stock worth $7,409,000 after buying an additional 62,030 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $101.70 on Tuesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The company has a fifty day moving average price of $100.95 and a 200 day moving average price of $96.58. LyondellBasell Industries has a one year low of $84.80 and a one year high of $106.69. The stock has a market cap of $33.10 billion, a P/E ratio of 15.72, a PEG ratio of 1.25 and a beta of 1.19.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. Analysts anticipate that LyondellBasell Industries will post 8.69 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.00 annualized dividend and a yield of 4.92%. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Analysts Set New Price Targets

LYB has been the subject of a number of analyst reports. Wolfe Research initiated coverage on shares of LyondellBasell Industries in a research report on Friday, March 1st. They issued an “underperform” rating for the company. Deutsche Bank Aktiengesellschaft downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Wednesday, January 10th. Mizuho raised their price objective on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday. Royal Bank of Canada boosted their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Monday. Finally, Citigroup raised their price target on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $104.67.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now owns 12,276 shares of the company’s stock, valued at $1,233,246.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other LyondellBasell Industries news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the sale, the director now owns 12,276 shares in the company, valued at $1,233,246.96. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock worth $8,077,267 in the last three months. Insiders own 0.11% of the company’s stock.

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.