HighTower Advisors LLC Trims Stake in LyondellBasell Industries (NYSE:LYB)

HighTower Advisors LLC lowered its position in shares of LyondellBasell Industries (NYSE:LYB) by 28.8% in the 4th quarter, HoldingsChannel reports. The firm owned 739,876 shares of the specialty chemicals company’s stock after selling 298,811 shares during the quarter. HighTower Advisors LLC’s holdings in LyondellBasell Industries were worth $54,951,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Webster Bank N. A. lifted its stake in shares of LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 295 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $31,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $37,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $59,000. Institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.5 %

Shares of LyondellBasell Industries stock opened at $72.55 on Friday. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.97 and a beta of 1.06. The business has a 50-day moving average price of $76.05 and a 200-day moving average price of $83.13. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a twelve month low of $71.81 and a twelve month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period in the previous year, the business posted $1.26 earnings per share. Equities research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $1.34 dividend. The ex-dividend date is Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 7.39%. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group cut their price target on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group lowered their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Wells Fargo & Company decreased their target price on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $88.25.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by insiders.

LyondellBasell Industries Company 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.