Commerce Bank Sells 5,962 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Commerce Bank reduced its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 38.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 9,669 shares of the specialty chemicals company's stock after selling 5,962 shares during the period. Commerce Bank's holdings in LyondellBasell Industries were worth $681,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Dodge & Cox grew its position in shares of LyondellBasell Industries by 5.3% during the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock worth $1,260,052,000 after buying an additional 851,365 shares during the period. Invesco Ltd. raised its holdings in LyondellBasell Industries by 13.5% in the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock worth $432,721,000 after purchasing an additional 694,055 shares during the period. Federated Hermes Inc. boosted its position in shares of LyondellBasell Industries by 12.7% during the first quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company's stock worth $333,994,000 after purchasing an additional 534,456 shares in the last quarter. Capital World Investors grew its holdings in shares of LyondellBasell Industries by 11.0% in the 4th quarter. Capital World Investors now owns 2,891,609 shares of the specialty chemicals company's stock valued at $214,760,000 after buying an additional 287,028 shares during the period. Finally, Northern Trust Corp increased its position in shares of LyondellBasell Industries by 10.0% in the 4th quarter. Northern Trust Corp now owns 2,726,246 shares of the specialty chemicals company's stock valued at $202,478,000 after buying an additional 247,336 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Wednesday. The Goldman Sachs Group dropped their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Mizuho boosted their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada cut their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.08.

LyondellBasell Industries Stock Performance

NYSE LYB traded down $1.13 on Friday, reaching $49.04. The stock had a trading volume of 3,648,130 shares, compared to its average volume of 5,260,149. LyondellBasell Industries N.V. has a 1-year low of $48.90 and a 1-year high of $99.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The company has a market cap of $15.77 billion, a P/E ratio of 63.69, a price-to-earnings-growth ratio of 3.18 and a beta of 0.85. The firm has a fifty day moving average of $59.46 and a two-hundred day moving average of $64.34.

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

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be given a $1.37 dividend. The ex-dividend date is Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.2%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 711.69%.

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.