Cresset Asset Management LLC Sells 26,989 Shares of LyondellBasell Industries (NYSE:LYB)

Cresset Asset Management LLC decreased its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 71.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,759 shares of the specialty chemicals company's stock after selling 26,989 shares during the quarter. Cresset Asset Management LLC's holdings in LyondellBasell Industries were worth $799,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company's stock worth $501,501,000 after purchasing an additional 187,150 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in LyondellBasell Industries by 202.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company's stock worth $964,000 after purchasing an additional 8,691 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of LyondellBasell Industries by 8.1% during the 4th quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company's stock worth $20,174,000 after buying an additional 20,310 shares during the period. Merrion Investment Management Co LLC acquired a new stake in shares of LyondellBasell Industries during the 4th quarter worth approximately $503,000. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of LyondellBasell Industries by 26.4% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 18,973 shares of the specialty chemicals company's stock valued at $1,409,000 after acquiring an additional 3,958 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Michael Sean Hanley purchased 3,750 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. This represents a 30.54% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

LYB has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Morgan Stanley lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com lowered shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Royal Bank of Canada lowered their price objective on shares of LyondellBasell Industries from $62.00 to $61.00 and set a "sector perform" rating for the company in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Friday, April 4th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $69.75.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $60.64 on Tuesday. The company's 50-day moving average is $63.60 and its 200 day moving average is $73.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The company has a market capitalization of $19.49 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87. LyondellBasell Industries has a fifty-two week low of $51.11 and a fifty-two week high of $102.09.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $7.68 billion during the quarter, compared to analysts' expectations of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. LyondellBasell Industries's quarterly revenue was down 7.6% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries will post 6.31 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 17th. Shareholders of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 8.84%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 165.43%.

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.

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