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

LyondellBasell Industries (NYSE:LYB - Get Free Report) hit a new 52-week low during trading on Monday . The company traded as low as $72.93 and last traded at $73.16, with a volume of 405421 shares changing hands. The stock had previously closed at $74.14.

Wall Street Analysts Forecast Growth

LYB has been the topic of several research reports. Mizuho decreased their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating on the stock in a research note on Monday, December 9th. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, December 6th. StockNews.com upgraded LyondellBasell Industries from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. Piper Sandler reduced their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating on the stock in a research report on Friday, November 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $96.27.

LyondellBasell Industries Price Performance

The stock's 50 day simple moving average is $81.18 and its 200-day simple moving average is $90.43. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The company has a market capitalization of $23.77 billion, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to analysts' expectations of $10.60 billion. During the same period in the previous year, the company earned $2.46 earnings per share. LyondellBasell Industries's quarterly revenue was down 2.8% on a year-over-year basis. As a group, equities analysts forecast that LyondellBasell Industries will post 7.02 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, December 9th. Investors of record on Monday, December 2nd were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 7.32%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 81.58%.

Insider Buying and Selling

In other news, Director Robin W.T. Buchanan bought 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the acquisition, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LyondellBasell Industries

A number of large investors have recently modified their holdings of LYB. JPMorgan Chase & Co. increased its holdings in LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company's stock valued at $501,501,000 after buying an additional 187,150 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company's stock worth $29,489,000 after acquiring an additional 18,311 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of LyondellBasell Industries by 0.5% in the 3rd quarter. Retirement Systems of Alabama now owns 57,021 shares of the specialty chemicals company's stock valued at $5,468,000 after acquiring an additional 277 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of LyondellBasell Industries by 11.4% in the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company's stock valued at $268,664,000 after acquiring an additional 293,622 shares during the last quarter. Finally, Tidal Investments LLC raised its position in shares of LyondellBasell Industries by 45.1% during the 3rd quarter. Tidal Investments LLC now owns 33,308 shares of the specialty chemicals company's stock worth $3,194,000 after acquiring an additional 10,359 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

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.