LyondellBasell Industries N.V. $LYB Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc cut its stake in LyondellBasell Industries by 21.1% in the fourth quarter, selling 339,332 shares and leaving it with about 1.27 million shares valued at $54.8 million.
• LyondellBasell reported Q1 earnings of $0.49 per share, beating estimates, though revenue of $7.20 billion came in below expectations and was down 6.3% year over year.
• The company announced a quarterly dividend of $0.69 per share payable June 8, implying a 4.2% annualized yield, while analysts currently rate the stock a consensus Hold with a $77.24 price target.

Legal & General Group Plc reduced its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,265,491 shares of the specialty chemicals company's stock after selling 339,332 shares during the period. Legal & General Group Plc owned approximately 0.39% of LyondellBasell Industries worth $54,796,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Stance Capital LLC purchased a new position in LyondellBasell Industries in the 3rd quarter worth about $27,000. United Community Bank increased its stake in LyondellBasell Industries by 83.2% in the 3rd quarter. United Community Bank now owns 623 shares of the specialty chemicals company's stock worth $31,000 after purchasing an additional 283 shares in the last quarter. Quarry LP purchased a new position in LyondellBasell Industries in the 3rd quarter worth about $31,000. CYBER HORNET ETFs LLC purchased a new position in LyondellBasell Industries in the 2nd quarter worth about $39,000. Finally, ORG Partners LLC increased its stake in LyondellBasell Industries by 960.0% in the 4th quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $68.13, for a total value of $26,199,255.24. Following the completion of the sale, the insider directly owned 5,270,918 shares in the company, valued at approximately $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company's stock.

LyondellBasell Industries Trading Down 2.7%

Shares of NYSE LYB opened at $66.49 on Friday. The stock has a market cap of $21.46 billion, a price-to-earnings ratio of -26.70, a PEG ratio of 0.16 and a beta of 0.32. The business has a 50 day simple moving average of $73.57 and a 200 day simple moving average of $59.04. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.03 and a current ratio of 1.54.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.18. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The firm had revenue of $7.20 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period in the previous year, the company earned $0.33 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts predict that LyondellBasell Industries N.V. will post 8.73 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 8th. Investors of record on Monday, June 1st will be issued a $0.69 dividend. This represents a $2.76 annualized dividend and a yield of 4.2%. The ex-dividend date is Monday, June 1st. LyondellBasell Industries's payout ratio is -110.84%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LYB. BMO Capital Markets lifted their price target on LyondellBasell Industries from $82.00 to $88.00 and gave the stock a "market perform" rating in a research note on Tuesday, May 5th. Wall Street Zen raised LyondellBasell Industries from a "hold" rating to a "buy" rating in a research note on Saturday, May 2nd. Evercore lifted their price target on LyondellBasell Industries from $70.00 to $73.00 in a research note on Thursday, May 14th. KeyCorp raised LyondellBasell Industries from a "sector weight" rating to an "overweight" rating and set a $73.00 price target on the stock in a research note on Wednesday, March 4th. Finally, Jefferies Financial Group lifted their target price on LyondellBasell Industries from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $77.24.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. NYSE: LYB is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company's integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.

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