RB Capital Management LLC Trims Stock Position in LyondellBasell Industries (NYSE:LYB)

RB Capital Management LLC decreased its position in LyondellBasell Industries (NYSE:LYB) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,425 shares of the specialty chemicals company’s stock after selling 528 shares during the period. RB Capital Management LLC’s holdings in LyondellBasell Industries were worth $328,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC grew its position in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after acquiring an additional 159 shares during the period. Matrix Trust Co acquired a new stake in shares of LyondellBasell Industries in the third quarter valued at $30,000. Blue Trust Inc. raised its holdings in LyondellBasell Industries by 311.0% in the second quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of LyondellBasell Industries during the 3rd quarter worth $31,000. Finally, Independence Bank of Kentucky increased its holdings in LyondellBasell Industries by 125.6% in the second quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research analyst reports. Mizuho lowered their price target on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a report on Monday, November 4th. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 5th. Piper Sandler decreased their price objective on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Finally, StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a report on Saturday, November 30th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $99.50.

LyondellBasell Industries Stock Up 1.2 %

Shares of NYSE:LYB opened at $77.33 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The firm’s 50-day simple moving average is $86.86 and its 200-day simple moving average is $92.74. LyondellBasell Industries has a fifty-two week low of $75.98 and a fifty-two week high of $107.02. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.13 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share 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 company had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same period last year, the company earned $2.46 earnings per share. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts predict that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 6.93%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s payout ratio is currently 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.