LyondellBasell Industries N.V. $LYB Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 42.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,060 shares of the specialty chemicals company's stock after selling 8,128 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in LyondellBasell Industries were worth $677,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LYB. Pacer Advisors Inc. increased its holdings in shares of LyondellBasell Industries by 3,502.2% in the first quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock valued at $141,893,000 after purchasing an additional 1,959,576 shares during the last quarter. HighTower Advisors LLC increased its holdings in shares of LyondellBasell Industries by 137.9% in the first quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company's stock valued at $123,907,000 after purchasing an additional 1,020,169 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of LyondellBasell Industries by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock valued at $650,465,000 after purchasing an additional 657,443 shares during the last quarter. Nuveen LLC acquired a new stake in shares of LyondellBasell Industries in the first quarter valued at approximately $43,280,000. Finally, Invesco Ltd. increased its stake in LyondellBasell Industries by 10.4% during the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock worth $452,852,000 after acquiring an additional 606,234 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Insider Buying and Selling

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on LYB. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating for the company in a research note on Wednesday, October 1st. Alembic Global Advisors raised LyondellBasell Industries to a "hold" rating in a research note on Monday. Bank Of America (Bofa) cut their target price on LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Finally, Royal Bank Of Canada cut their target price on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $58.56.

LyondellBasell Industries Trading Up 3.5%

Shares of NYSE LYB opened at $46.80 on Friday. LyondellBasell Industries N.V. has a twelve month low of $44.87 and a twelve month high of $89.50. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $51.51 and a 200-day simple moving average of $55.93. The stock has a market capitalization of $15.05 billion, a PE ratio of 60.78 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the previous year, the firm earned $2.24 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 11.7%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's payout ratio is presently 711.69%.

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.

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