LyondellBasell Industries (NYSE:LYB) Reaches New 12-Month Low - Here's What Happened

Shares of LyondellBasell Industries (NYSE:LYB - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $64.61 and last traded at $65.04, with a volume of 1584859 shares changing hands. The stock had previously closed at $70.65.

Wall Street Analysts Forecast Growth

LYB has been the topic of several recent research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a research note on Friday. Barclays decreased their target price on LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. UBS Group reiterated a "sell" rating and issued a $51.00 price target (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday. Finally, The Goldman Sachs Group decreased their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating for the company in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $78.83.

LyondellBasell Industries Trading Down 6.2 %

The company's fifty day moving average is $74.04 and its 200-day moving average is $79.86. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $17.18 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.97 and a beta of 0.89.

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LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) 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 prior year, the firm earned $1.26 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 10.09%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is currently 129.47%.

Insider Activity at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.11% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LyondellBasell Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Webster Bank N. A. raised its stake in shares of LyondellBasell Industries by 70.4% in the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock worth $26,000 after acquiring an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton raised its holdings in LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock worth $30,000 after purchasing an additional 295 shares during the period. Lazard Asset Management LLC lifted its holdings in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after acquiring an additional 214 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of LyondellBasell Industries in the fourth quarter valued at approximately $37,000. Finally, Covestor Ltd lifted its stake in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

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.