LyondellBasell Industries (NYSE:LYB) Shares Sold by Neo Ivy Capital Management

Neo Ivy Capital Management trimmed its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 83.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 842 shares of the specialty chemicals company’s stock after selling 4,242 shares during the period. Neo Ivy Capital Management’s holdings in LyondellBasell Industries were worth $80,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in LYB. FMR LLC grew its holdings in LyondellBasell Industries by 10.3% in the 3rd quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after buying an additional 787,221 shares in the last quarter. Morgan Stanley lifted its holdings in LyondellBasell Industries by 9.9% in the 3rd quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock valued at $597,140,000 after acquiring an additional 569,887 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,683,892 shares of the specialty chemicals company’s stock worth $540,424,000 after buying an additional 33,212 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of LyondellBasell Industries by 4.0% during the 3rd quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock valued at $536,752,000 after acquiring an additional 217,461 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of LyondellBasell Industries by 24.9% during the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after acquiring an additional 815,083 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LYB has been the subject of several analyst reports. Mizuho increased their price target on LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. JPMorgan Chase & Co. boosted their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. BMO Capital Markets raised their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 30th. Wolfe Research started coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They set an “underperform” rating on the stock. Finally, Barclays raised their target price on LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $105.08.

LyondellBasell Industries Stock Performance

LYB traded down $2.02 on Friday, hitting $93.54. The company had a trading volume of 1,395,282 shares, compared to its average volume of 1,486,491. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.18 and a beta of 1.13. 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’s fifty day moving average price is $99.36 and its 200 day moving average price is $97.81. LyondellBasell Industries has a 1-year low of $86.64 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.17. The business had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. LyondellBasell Industries’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 EPS. Equities analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Monday, June 3rd were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.73%. LyondellBasell Industries’s payout ratio is presently 82.84%.

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.