Federated Hermes Inc. Reduces Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Federated Hermes Inc. decreased its holdings in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,209,783 shares of the specialty chemicals company's stock after selling 508,661 shares during the quarter. LyondellBasell Industries comprises approximately 0.7% of Federated Hermes Inc.'s holdings, making the stock its 23rd largest position. Federated Hermes Inc. owned about 1.30% of LyondellBasell Industries worth $312,661,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of LyondellBasell Industries by 18.4% in the 4th quarter. Russell Investments Group Ltd. now owns 363,874 shares of the specialty chemicals company's stock valued at $27,007,000 after buying an additional 56,463 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its holdings in LyondellBasell Industries by 71.1% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 224,643 shares of the specialty chemicals company's stock worth $16,684,000 after buying an additional 93,364 shares during the period. Unison Advisors LLC boosted its stake in LyondellBasell Industries by 1.4% in the 4th quarter. Unison Advisors LLC now owns 40,564 shares of the specialty chemicals company's stock worth $3,013,000 after purchasing an additional 572 shares during the period. Pitcairn Co. lifted its position in shares of LyondellBasell Industries by 11.9% in the fourth quarter. Pitcairn Co. now owns 5,109 shares of the specialty chemicals company's stock worth $379,000 after purchasing an additional 542 shares in the last quarter. Finally, Huntington National Bank grew its stake in LyondellBasell Industries by 26.2% in the fourth quarter. Huntington National Bank now owns 2,444 shares of the specialty chemicals company's stock valued at $182,000 after purchasing an additional 507 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company's stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company's stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded up $1.28 during mid-day trading on Friday, reaching $55.62. The stock had a trading volume of 2,591,633 shares, compared to its average volume of 2,392,898. The company has a market cap of $17.99 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The business's 50 day moving average price is $71.97 and its 200 day moving average price is $78.72. 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 1 year low of $51.11 and a 1 year high of $107.02.

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 net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the previous year, the business earned $1.26 earnings per share. Research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 9.64%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's dividend payout ratio is currently 129.47%.

Wall Street Analyst Weigh In

LYB has been the subject of several research analyst reports. Barclays reduced their target price on LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Royal Bank of Canada lowered LyondellBasell Industries from an "outperform" rating to a "sector perform" rating and set a $62.00 price objective on the stock. in a research report on Wednesday. StockNews.com lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Morgan Stanley dropped their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Finally, Piper Sandler decreased their target price on shares of LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $76.50.

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.