Summit Street Capital Management LLC Sells 10,367 Shares of LyondellBasell Industries (NYSE:LYB)

Summit Street Capital Management LLC reduced its stake in LyondellBasell Industries (NYSE:LYB - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 77,806 shares of the specialty chemicals company's stock after selling 10,367 shares during the period. LyondellBasell Industries makes up approximately 2.1% of Summit Street Capital Management LLC's holdings, making the stock its 25th largest holding. Summit Street Capital Management LLC's holdings in LyondellBasell Industries were worth $5,779,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company's stock worth $501,501,000 after acquiring an additional 187,150 shares during the last quarter. Sound Income Strategies LLC grew its holdings in LyondellBasell Industries by 8.1% during the fourth quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company's stock valued at $20,174,000 after purchasing an additional 20,310 shares during the period. Merrion Investment Management Co LLC acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at $503,000. Hennion & Walsh Asset Management Inc. increased its holdings in shares of LyondellBasell Industries by 26.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 18,973 shares of the specialty chemicals company's stock worth $1,409,000 after acquiring an additional 3,958 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in LyondellBasell Industries during the 4th quarter worth approximately $3,760,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock traded down $0.96 during mid-day trading on Friday, hitting $55.38. 1,175,203 shares of the company's stock traded hands, compared to its average volume of 3,461,218. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $61.01 and a two-hundred day simple moving average of $71.79. LyondellBasell Industries has a fifty-two week low of $51.11 and a fifty-two week high of $100.46. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the business posted $1.53 EPS. The business's quarterly revenue was down 7.6% compared to the same quarter last year. On average, research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Monday, June 2nd will be given a $1.37 dividend. This is an increase from LyondellBasell Industries's previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a dividend yield of 9.90%. LyondellBasell Industries's dividend payout ratio is presently 165.43%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LYB. UBS Group reaffirmed a "sell" rating and issued a $51.00 target price (down from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Piper Sandler decreased their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Morgan Stanley cut their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Finally, Wells Fargo & Company lowered their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $69.75.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley purchased 3,750 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the purchase, the director now owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. The trade was a 30.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.