Aviva PLC Sells 259,985 Shares of LyondellBasell Industries (NYSE:LYB)

Aviva PLC lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 62.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,725 shares of the specialty chemicals company’s stock after selling 259,985 shares during the quarter. Aviva PLC’s holdings in LyondellBasell Industries were worth $11,640,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after buying an additional 558,137 shares during the period. Geode Capital Management LLC lifted its stake in LyondellBasell Industries by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock worth $512,913,000 after purchasing an additional 199,054 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares in the last quarter. Amundi raised its stake in LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after purchasing an additional 1,260,913 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of LyondellBasell Industries by 0.7% in the 4th quarter. Franklin Resources Inc. now owns 2,894,956 shares of the specialty chemicals company’s stock worth $215,008,000 after buying an additional 19,689 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $53.12 on Wednesday. The stock has a market cap of $17.18 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.97 and a beta of 0.89. LyondellBasell Industries has a twelve month low of $52.04 and a twelve month high of $107.02. The stock has a 50 day moving average of $73.04 and a two-hundred day moving average of $79.38. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 EPS. On average, research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 10.09%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

Wall Street Analyst Weigh In

LYB has been the subject of several analyst reports. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Piper Sandler lowered their target price on shares of LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday. The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Barclays dropped their price objective on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $78.83.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company’s stock.

About LyondellBasell Industries

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.