Alliancebernstein L.P. Decreases Stock Position in LyondellBasell Industries (NYSE:LYB)

Alliancebernstein L.P. reduced its position in LyondellBasell Industries (NYSE:LYB) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,547,920 shares of the specialty chemicals company’s stock after selling 5,766 shares during the quarter. Alliancebernstein L.P. owned about 1.09% of LyondellBasell Industries worth $263,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of LyondellBasell Industries by 35.9% in the fourth quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company’s stock worth $213,204,000 after buying an additional 757,612 shares in the last quarter. Everstar Asset Management LLC lifted its stake in LyondellBasell Industries by 17.9% in the 4th quarter. Everstar Asset Management LLC now owns 3,281 shares of the specialty chemicals company’s stock worth $244,000 after purchasing an additional 498 shares in the last quarter. Walled Lake Planning & Wealth Management LLC acquired a new position in shares of LyondellBasell Industries during the 4th quarter worth approximately $3,038,000. CIBC Private Wealth Group LLC grew its position in shares of LyondellBasell Industries by 81.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 11,648 shares of the specialty chemicals company’s stock valued at $851,000 after purchasing an additional 5,229 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of LyondellBasell Industries by 88.7% in the fourth quarter. Schroder Investment Management Group now owns 871,574 shares of the specialty chemicals company’s stock valued at $64,732,000 after purchasing an additional 409,633 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on LYB shares. UBS Group cut their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Barclays reduced their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley cut their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, 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 report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.25.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley purchased 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now directly owns 16,028 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Trading Up 0.9 %

LYB opened at $70.44 on Tuesday. LyondellBasell Industries has a 52 week low of $69.15 and a 52 week high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $75.44 and a 200-day simple moving average of $80.94. The firm has a market cap of $22.78 billion, a P/E ratio of 17.01, a P/E/G ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same period in the previous year, the firm earned $1.26 EPS. On average, equities analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 129.47%.

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.