Kingsview Wealth Management LLC Sells 20,261 Shares of LyondellBasell Industries (NYSE:LYB)

Kingsview Wealth Management LLC trimmed its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 65.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,559 shares of the specialty chemicals company's stock after selling 20,261 shares during the quarter. Kingsview Wealth Management LLC's holdings in LyondellBasell Industries were worth $1,013,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in LyondellBasell Industries by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company's stock valued at $769,500,000 after purchasing an additional 362,671 shares during the last quarter. Pacer Advisors Inc. grew its holdings in LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company's stock worth $461,930,000 after buying an additional 579,300 shares in the last quarter. Dimensional Fund Advisors LP raised its position in LyondellBasell Industries by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company's stock valued at $449,175,000 after buying an additional 170,464 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in LyondellBasell Industries by 0.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,065,083 shares of the specialty chemicals company's stock valued at $101,886,000 after acquiring an additional 6,760 shares in the last quarter. Finally, Raymond James & Associates boosted its holdings in LyondellBasell Industries by 0.4% during the 3rd quarter. Raymond James & Associates now owns 912,538 shares of the specialty chemicals company's stock worth $87,512,000 after acquiring an additional 3,394 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Performance

LYB traded up $0.90 on Wednesday, hitting $83.04. The company's stock had a trading volume of 2,624,552 shares, compared to its average volume of 1,911,579. The company's 50 day simple moving average is $89.36 and its 200-day simple moving average is $93.92. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a 12 month low of $81.45 and a 12 month high of $107.02. The firm has a market cap of $26.97 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.46 earnings per share. Analysts forecast that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.45%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries's payout ratio is 81.58%.

Wall Street Analyst Weigh In

Several analysts have recently commented on LYB shares. Barclays lowered their target price on shares of LyondellBasell Industries from $99.00 to $95.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. Royal Bank of Canada dropped their target price on shares of LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating on the stock in a research report on Monday, November 4th. Piper Sandler reduced their target price on LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating for the company in a report on Friday, November 8th. Mizuho dropped their price target on LyondellBasell Industries from $101.00 to $97.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $101.70.

LyondellBasell Industries Company 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.