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

LyondellBasell Industries (NYSE:LYB - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The company traded as low as $52.50 and last traded at $53.12, with a volume of 7183153 shares. The stock had previously closed at $56.60.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LYB. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $60.00 price target (down previously from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Morgan Stanley lowered their price target on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Citigroup reduced their price objective 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. Royal Bank of Canada lowered 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 research note on Wednesday, April 9th. Finally, Piper Sandler cut their target price on shares of LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Two investment 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, LyondellBasell Industries presently has an average rating of "Hold" and an average price target of $76.50.

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LyondellBasell Industries Stock Performance

The firm has a fifty day simple moving average of $71.54 and a 200 day simple moving average of $78.34. 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 stock has a market cap of $18.58 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 0.97 and a beta of 0.89.

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

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 9.33%. LyondellBasell Industries's payout ratio is currently 129.47%.

Insiders Place Their Bets

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

Institutional Trading of LyondellBasell Industries

Several institutional investors have recently bought and sold shares of LYB. Vident Advisory LLC boosted its stake in shares of LyondellBasell Industries by 0.8% in the 4th quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock valued at $1,197,000 after purchasing an additional 131 shares in the last quarter. Webster Bank N. A. boosted its holdings in shares of LyondellBasell Industries by 70.4% in the 4th 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 in the last quarter. Cairn Investment Group Inc. grew its position in LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company's stock worth $3,130,000 after acquiring an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in LyondellBasell Industries by 5.2% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company's stock valued at $268,000 after purchasing an additional 177 shares in the last quarter. Finally, Y.D. More Investments Ltd raised its position in LyondellBasell Industries by 14.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company's stock valued at $111,000 after purchasing an additional 194 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

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.