22,342 LyondellBasell Industries N.V. $LYB Shares Sold by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. cut its LyondellBasell stake by 47.6% in the third quarter, selling 22,342 shares and retaining 24,609 shares valued at approximately $1.41 million.
• LyondellBasell shares opened at $62.69, while institutional investors collectively owned 71.2% of the company. The stock has a 12-month range of $41.58 to $83.94.
• The company reported quarterly EPS of $4.30, exceeding analysts’ $3.44 estimate, and paid a quarterly dividend of $0.69 per share, representing a 4.4% annualized yield. Analysts’ consensus rating was Hold, with an average price target of $71.50.

First Citizens Bank & Trust Co. lowered its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 47.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,609 shares of the specialty chemicals company's stock after selling 22,342 shares during the period. First Citizens Bank & Trust Co.'s holdings in LyondellBasell Industries were worth $1,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Banque Cantonale Vaudoise purchased a new stake in LyondellBasell Industries during the first quarter valued at approximately $48,000. Kelleher Financial Advisors lifted its stake in shares of LyondellBasell Industries by 4,112.5% in the 2nd quarter. Kelleher Financial Advisors now owns 674 shares of the specialty chemicals company's stock valued at $35,000 after purchasing an additional 658 shares during the last quarter. SHP Wealth Management purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $39,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of LyondellBasell Industries in the 1st quarter worth approximately $73,000. Finally, Versant Capital Management Inc increased its position in shares of LyondellBasell Industries by 148.8% during the 2nd quarter. Versant Capital Management Inc now owns 953 shares of the specialty chemicals company's stock valued at $50,000 after purchasing an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Trading Up 2.5%

LYB stock opened at $62.69 on Friday. The company has a market capitalization of $20.25 billion, a PE ratio of 11.04, a P/E/G ratio of 0.16 and a beta of 0.30. LyondellBasell Industries N.V. has a 12 month low of $41.58 and a 12 month high of $83.94. The firm's 50-day moving average is $62.36 and its 200 day moving average is $64.73. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.64 and a quick ratio of 1.07.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The specialty chemicals company reported $4.30 earnings per share for the quarter, beating analysts' consensus estimates of $3.44 by $0.86. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $9.21 billion. LyondellBasell Industries had a negative net margin of 1.13% and a positive return on equity of 17.44%. The firm's revenue for the quarter was up 19.8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. On average, research analysts anticipate that LyondellBasell Industries N.V. will post 9.17 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 24th were given a dividend of $0.69 per share. The ex-dividend date of this dividend was Monday, August 24th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.4%. LyondellBasell Industries's dividend payout ratio (DPR) is -244.25%.

Analysts Set New Price Targets

LYB has been the topic of several recent research reports. Morgan Stanley decreased their price target on LyondellBasell Industries from $77.00 to $72.00 and set an "overweight" rating on the stock in a report on Monday, July 20th. JPMorgan Chase & Co. upgraded LyondellBasell Industries from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $75.00 to $80.00 in a research report on Monday, August 3rd. Royal Bank Of Canada dropped their price objective on shares of LyondellBasell Industries from $72.00 to $68.00 and set an "outperform" rating for the company in a research note on Tuesday. Bank of America cut their price objective on shares of LyondellBasell Industries from $68.00 to $48.00 and set an "underperform" rating on the stock in a research report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of LyondellBasell Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $71.50.

About LyondellBasell Industries

LyondellBasell Industries N.V. is a global chemical company that produces materials used across a wide range of industrial and consumer applications. Its portfolio includes olefins and polyolefins, such as polyethylene and polypropylene, as well as propylene oxide, oxyfuels, solvents, and other chemical intermediates.

The company's products are used in packaging, healthcare, automotive components, construction materials, agriculture, home furnishings, and consumer goods. LyondellBasell also develops advanced polymer compounds and participates in recycling and circular-economy initiatives designed to increase the reuse of plastic materials.

LyondellBasell serves customers in markets throughout North America, Europe, Asia, and other international regions through manufacturing facilities, research operations, and commercial activities around the world.

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