LyondellBasell Industries N.V. $LYB Stock: Sumitomo Mitsui Trust Group Inc. Trims Stake

Key Points

• Sumitomo Mitsui Trust Group cut its LyondellBasell stake by 6.6% in the third quarter, selling 42,416 shares and retaining 596,210 shares worth about $34.3 million. Institutional investors and hedge funds collectively own 71.2% of the stock.
• Analyst views are mixed: the consensus rating is Hold, with an average price target of $73.22. Recent targets ranged from $66 to $82, alongside both Buy/Outperform and Sell/Underperform ratings.
• LyondellBasell reported quarterly EPS of $2.54, slightly below estimates, and revenue of $8.50 billion versus expectations of $8.87 billion; revenue rose 10% year over year. Its quarterly dividend is $0.69 per share, equivalent to a 4.5% annualized yield at the article’s cited share price.

Sumitomo Mitsui Trust Group Inc. trimmed its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 596,210 shares of the specialty chemicals company's stock after selling 42,416 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.18% of LyondellBasell Industries worth $34,264,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cidel Asset Management Inc. lifted its holdings in shares of LyondellBasell Industries by 2.0% during the second quarter. Cidel Asset Management Inc. now owns 9,996 shares of the specialty chemicals company's stock worth $526,000 after buying an additional 193 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of LyondellBasell Industries by 26.0% in the third quarter. Pinnacle Bancorp Inc. now owns 965 shares of the specialty chemicals company's stock valued at $55,000 after acquiring an additional 199 shares during the period. Ipsen Advisor Group LLC grew its stake in shares of LyondellBasell Industries by 2.4% in the first quarter. Ipsen Advisor Group LLC now owns 9,359 shares of the specialty chemicals company's stock valued at $754,000 after acquiring an additional 216 shares in the last quarter. Moody National Bank Trust Division increased its holdings in shares of LyondellBasell Industries by 4.7% during the third quarter. Moody National Bank Trust Division now owns 6,116 shares of the specialty chemicals company's stock worth $351,000 after purchasing an additional 275 shares during the period. Finally, North Dakota State Investment Board grew its position in LyondellBasell Industries by 3.7% during the third quarter. North Dakota State Investment Board now owns 7,900 shares of the specialty chemicals company's stock worth $454,000 after buying an additional 283 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on LyondellBasell Industries from $70.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday. Royal Bank Of Canada upped their target price on LyondellBasell Industries from $68.00 to $82.00 and gave the company an "outperform" rating in a research report on Monday. UBS Group increased their target price on LyondellBasell Industries from $62.00 to $69.00 and gave the stock a "neutral" rating in a report on Tuesday. Bank of America restated an "underperform" rating and issued a $66.00 price target on shares of LyondellBasell Industries in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and set a $69.00 price objective on shares of LyondellBasell Industries in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $73.22.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $61.57 on Friday. LyondellBasell Industries N.V. has a twelve month low of $41.58 and a twelve month high of $83.94. The company has a quick ratio of 1.18, a current ratio of 1.78 and a debt-to-equity ratio of 0.99. The stock's 50-day simple moving average is $62.73 and its 200 day simple moving average is $63.87. The firm has a market capitalization of $19.90 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.17 and a beta of 0.29.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, October 30th. The specialty chemicals company reported $2.54 EPS for the quarter, missing the consensus estimate of $2.57 by ($0.03). The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.87 billion. LyondellBasell Industries had a return on equity of 21.94% and a net margin of 4.06%. The firm's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. On average, analysts anticipate that LyondellBasell Industries N.V. will post 9.08 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 24th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, August 24th. LyondellBasell Industries's dividend payout ratio is currently 69.70%.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. is a global chemical company that produces polymers, chemicals and related products used in packaging, transportation, construction, healthcare, consumer goods and other industries. Its portfolio includes polyethylene, polypropylene, advanced polymers, propylene oxide, solvents, acetyls and other chemical intermediates.

The company also operates businesses involved in refining and in the development and licensing of chemical and polymer technologies. Its products are used to manufacture items such as food and beverage packaging, automotive components, medical products, coatings, adhesives and household goods.

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