Swiss Life Asset Management Ltd Lowers Stake in LyondellBasell Industries N.V. $LYB

Key Points

• Swiss Life Asset Management reduced its stake in LyondellBasell Industries by 8.6% in the fourth quarter, selling 60,858 shares and leaving it with 647,205 shares valued at about $28.0 million.
• LyondellBasell recently reported better-than-expected earnings of $0.49 per share, topping estimates, though revenue came in below forecasts and fell 6.3% year over year.
• The company also paid a quarterly dividend of $0.69 per share, which annualizes to a 3.8% yield, while analysts currently have an overall Hold rating with an average price target of $76.59.

Swiss Life Asset Management Ltd lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 647,205 shares of the specialty chemicals company's stock after selling 60,858 shares during the period. Swiss Life Asset Management Ltd owned 0.20% of LyondellBasell Industries worth $28,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of LYB. Stance Capital LLC purchased a new stake in LyondellBasell Industries during the third quarter worth $27,000. Quent Capital LLC purchased a new stake in LyondellBasell Industries during the third quarter worth $29,000. ORG Partners LLC lifted its holdings in LyondellBasell Industries by 960.0% during the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 624 shares during the period. United Community Bank lifted its holdings in LyondellBasell Industries by 83.2% during the third quarter. United Community Bank now owns 623 shares of the specialty chemicals company's stock worth $31,000 after buying an additional 283 shares during the period. Finally, Quarry LP purchased a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

NYSE LYB opened at $73.53 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.54 and a quick ratio of 1.03. The stock's fifty day moving average price is $72.33 and its 200 day moving average price is $56.63. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $83.94. The company has a market cap of $23.73 billion, a price-to-earnings ratio of -29.53, a PEG ratio of 0.17 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the firm earned $0.33 EPS. The firm's revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that LyondellBasell Industries N.V. will post 8.73 earnings per share for the current year.

LyondellBasell Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries's dividend payout ratio is presently -110.84%.

Insider Activity

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company's stock in a transaction 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 transaction, the insider directly owned 5,270,918 shares of the company's stock, valued at $359,107,643.34. This represents a 6.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on LYB shares. Fermium Researc upgraded LyondellBasell Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, March 9th. KeyCorp upgraded LyondellBasell Industries from a "sector weight" rating to an "overweight" rating and set a $73.00 price objective for the company in a report on Wednesday, March 4th. Vertical Research upgraded LyondellBasell Industries from a "hold" rating to a "buy" rating and set a $75.00 price objective for the company in a report on Monday, March 9th. Bank of America reiterated an "underperform" rating and set a $55.00 price objective on shares of LyondellBasell Industries in a report on Monday, April 6th. Finally, Evercore increased their price objective on LyondellBasell Industries from $57.00 to $70.00 in a report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $76.59.

About LyondellBasell Industries

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.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries N.V. (NYSE:LYB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.