Retirement Systems of Alabama Has $5.47 Million Position in LyondellBasell Industries (NYSE:LYB)

Retirement Systems of Alabama raised its stake in shares of LyondellBasell Industries (NYSE:LYB) by 0.5% in the third quarter, Holdings Channel reports. The fund owned 57,021 shares of the specialty chemicals company’s stock after acquiring an additional 277 shares during the period. Retirement Systems of Alabama’s holdings in LyondellBasell Industries were worth $5,468,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in LyondellBasell Industries by 311.0% during the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after buying an additional 227 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in LyondellBasell Industries by 6.0% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 117,817 shares of the specialty chemicals company’s stock worth $11,270,000 after acquiring an additional 6,638 shares during the last quarter. Fifth Third Bancorp increased its holdings in LyondellBasell Industries by 4.9% during the 2nd quarter. Fifth Third Bancorp now owns 32,849 shares of the specialty chemicals company’s stock valued at $3,142,000 after purchasing an additional 1,522 shares in the last quarter. Atria Wealth Solutions Inc. raised its position in LyondellBasell Industries by 33.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 11,109 shares of the specialty chemicals company’s stock valued at $1,063,000 after purchasing an additional 2,792 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new position in LyondellBasell Industries in the second quarter worth $204,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $74.80 on Thursday. The stock has a 50-day moving average of $84.15 and a 200-day moving average of $91.68. LyondellBasell Industries has a one year low of $74.60 and a one year high of $107.02. The stock has a market cap of $24.29 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the business posted $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that LyondellBasell Industries will post 7.02 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 7.17%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Insider Buying and Selling

In other news, Director Robin W.T. Buchanan bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the transaction, the director now owns 18,175 shares in the company, valued at $1,382,390.50. This represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price target on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Monday. The Goldman Sachs Group decreased their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Finally, Royal Bank of Canada dropped their target price on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.36.

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.