Wells Fargo & Company MN Sells 236,389 Shares of LyondellBasell Industries (NYSE:LYB)

Wells Fargo & Company MN lessened its stake in LyondellBasell Industries (NYSE:LYB - Free Report) by 18.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,057,353 shares of the specialty chemicals company's stock after selling 236,389 shares during the period. Wells Fargo & Company MN owned 0.33% of LyondellBasell Industries worth $78,530,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Webster Bank N. A. increased its stake in shares of LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after acquiring an additional 143 shares during the period. Cairn Investment Group Inc. boosted its stake 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 valued at $3,130,000 after purchasing an additional 155 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its position in shares of 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 during the period. Y.D. More Investments Ltd raised its stake in shares of 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 worth $111,000 after buying an additional 194 shares in the last quarter. Finally, Caprock Group LLC lifted its holdings in shares of LyondellBasell Industries by 5.8% in the fourth quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company's stock valued at $298,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

Insider Activity

In other news, Director Michael Sean Hanley purchased 3,750 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, with a total value of $270,187.50. Following the purchase, the director now directly owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LYB. Morgan Stanley cut their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. 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 note on Monday, April 7th. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research report on Friday, April 4th. Royal Bank of Canada downgraded LyondellBasell Industries from an "outperform" rating to a "sector perform" rating and set a $62.00 price objective for the company. in a research report on Wednesday. Finally, 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. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $76.50.

LyondellBasell Industries Stock Up 4.8 %

LyondellBasell Industries stock traded up $2.62 during mid-day trading on Friday, hitting $56.96. The company's stock had a trading volume of 5,782,137 shares, compared to its average volume of 2,414,260. LyondellBasell Industries has a 52-week low of $51.11 and a 52-week high of $107.02. The company has a market cap of $18.42 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The firm's 50 day moving average is $71.54 and its 200 day moving average is $78.34.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted 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 return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the previous year, the business earned $1.26 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.41%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is currently 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.