Victory Capital Management Inc. Cuts Stock Position in LyondellBasell Industries (NYSE:LYB)

Victory Capital Management Inc. reduced its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 0.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 889,299 shares of the specialty chemicals company's stock after selling 3,581 shares during the quarter. Victory Capital Management Inc. owned about 0.27% of LyondellBasell Industries worth $66,048,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its holdings in LyondellBasell Industries by 211.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company's stock valued at $123,055,000 after buying an additional 871,708 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in LyondellBasell Industries by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company's stock valued at $637,394,000 after buying an additional 558,137 shares during the period. Franklin Resources Inc. raised its holdings in LyondellBasell Industries by 11.4% during 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 buying an additional 293,622 shares during the period. Geode Capital Management LLC raised its holdings in LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company's stock valued at $638,964,000 after buying an additional 277,108 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in LyondellBasell Industries by 40.0% during the 4th quarter. Allianz Asset Management GmbH now owns 947,614 shares of the specialty chemicals company's stock valued at $70,379,000 after buying an additional 270,694 shares during the period. 71.20% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Royal Bank of Canada increased their target price on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Piper Sandler reduced their target price on LyondellBasell Industries from $95.00 to $84.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Barclays reduced their target price on LyondellBasell Industries from $90.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating on the stock in a research note on Thursday, December 12th. Finally, UBS Group reduced their target price on LyondellBasell Industries from $77.00 to $76.00 and set a "neutral" rating on the stock in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of "Hold" and an average target price of $88.25.

LyondellBasell Industries Stock Up 2.1 %

LYB stock traded up $1.62 during trading on Friday, reaching $77.53. 3,223,373 shares of the company traded hands, compared to its average volume of 2,061,236. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02. The business has a 50 day simple moving average of $76.04 and a 200 day simple moving average of $83.69. The company has a market capitalization of $25.08 billion, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data 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 period in the prior year, the company posted $1.26 EPS. On average, equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.91%. The ex-dividend date is Monday, March 10th. LyondellBasell Industries's dividend payout ratio is presently 129.47%.

LyondellBasell Industries 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.