Advisory Services Network LLC Cuts Stock Position in LyondellBasell Industries (NYSE:LYB)

Advisory Services Network LLC cut its stake in LyondellBasell Industries (NYSE:LYB - Free Report) by 19.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,636 shares of the specialty chemicals company's stock after selling 5,075 shares during the period. Advisory Services Network LLC's holdings in LyondellBasell Industries were worth $1,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Amundi boosted its position in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company's stock valued at $283,452,000 after buying an additional 1,260,913 shares during the last quarter. Norges Bank acquired a new position in LyondellBasell Industries during the 4th quarter valued at about $81,015,000. Raymond James Financial Inc. bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $69,115,000. Wellington Management Group LLP grew its position in shares of LyondellBasell Industries by 35.9% during the 4th 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 during the period. Finally, Invesco Ltd. lifted its holdings in LyondellBasell Industries by 13.5% in the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after buying an additional 694,055 shares during the period. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock traded up $1.21 during midday trading on Thursday, reaching $57.15. The company's stock had a trading volume of 1,505,354 shares, compared to its average volume of 2,441,060. The stock has a market cap of $18.49 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. 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 has a 52 week low of $51.11 and a 52 week high of $107.02. The business has a 50-day moving average price of $70.32 and a 200-day moving average price of $77.77.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share 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 quarter in the prior year, the business earned $1.26 EPS. On average, sell-side analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $1.34 per share. The ex-dividend date was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 9.38%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 129.47%.

Insider Buying and Selling

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LYB shares. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Friday, April 4th. UBS Group reiterated a "sell" rating and issued a $51.00 price target (down from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $60.00 target price (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Royal Bank of Canada downgraded shares of LyondellBasell Industries from an "outperform" rating to a "sector perform" rating and set a $62.00 target price on the stock. in a report on Wednesday, April 9th. Finally, Citigroup cut their target price on shares of LyondellBasell Industries from $75.00 to $66.00 and set a "neutral" rating for the company in a research note on Friday, April 4th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $76.50.

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.