Holocene Advisors LP Sells 112,172 Shares of LyondellBasell Industries (NYSE:LYB)

Holocene Advisors LP reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 18.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 500,400 shares of the specialty chemicals company’s stock after selling 112,172 shares during the quarter. Holocene Advisors LP’s holdings in LyondellBasell Industries were worth $47,988,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. CVA Family Office LLC raised its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after acquiring an additional 227 shares during the period. Matrix Trust Co bought a new position in shares of LyondellBasell Industries in the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC purchased a new position in shares of LyondellBasell Industries in the 3rd quarter valued at approximately $31,000. Finally, Independence Bank of Kentucky boosted its position in shares of LyondellBasell Industries by 125.6% during the second quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 216 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $82.03 on Tuesday. The company has a market cap of $26.64 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 2.33 and a beta of 1.05. The business’s fifty day simple moving average is $88.88 and its two-hundred day simple moving average is $93.62. LyondellBasell Industries has a 12 month low of $81.06 and a 12 month high of $107.02. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the business earned $2.46 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Research analysts anticipate that LyondellBasell Industries will post 7.09 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.34 per share. The ex-dividend date is Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.53%. LyondellBasell Industries’s payout ratio is 81.58%.

Wall Street Analyst Weigh In

LYB has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, November 5th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. Evercore ISI raised shares of LyondellBasell Industries to a “hold” rating in a research note on Monday, August 5th. Finally, Mizuho dropped their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $101.70.

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.