Bell Bank Sells 10,908 Shares of LyondellBasell Industries (NYSE:LYB)

Bell Bank trimmed its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 12.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,773 shares of the specialty chemicals company’s stock after selling 10,908 shares during the quarter. LyondellBasell Industries accounts for 0.9% of Bell Bank’s holdings, making the stock its 29th biggest position. Bell Bank’s holdings in LyondellBasell Industries were worth $7,554,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Schrum Private Wealth Management LLC bought a new stake in shares of LyondellBasell Industries during the third quarter worth $310,000. Oppenheimer & Co. Inc. boosted its stake in LyondellBasell Industries by 4.9% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 14,056 shares of the specialty chemicals company’s stock worth $1,348,000 after purchasing an additional 651 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in LyondellBasell Industries by 15.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,432 shares of the specialty chemicals company’s stock worth $233,000 after purchasing an additional 320 shares during the period. Rossmore Private Capital increased its holdings in LyondellBasell Industries by 30.3% during the 3rd quarter. Rossmore Private Capital now owns 4,300 shares of the specialty chemicals company’s stock worth $412,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of LyondellBasell Industries by 0.4% in the 3rd quarter. Victory Capital Management Inc. now owns 892,880 shares of the specialty chemicals company’s stock valued at $85,627,000 after purchasing an additional 3,651 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Barclays lowered their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company cut their price objective on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada decreased their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $83.44 on Thursday. The company has a market cap of $27.10 billion, a PE ratio of 12.70, a price-to-earnings-growth ratio of 2.33 and a beta of 1.08. The firm has a 50-day moving average of $91.81 and a 200-day moving average of $95.24. LyondellBasell Industries has a one year low of $83.02 and a one year high of $107.02. 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 quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, equities analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries’s payout ratio is presently 81.58%.

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.