Truist Financial Corp Cuts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Truist Financial Corp reduced its stake in LyondellBasell Industries (NYSE:LYB - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 144,608 shares of the specialty chemicals company's stock after selling 50,617 shares during the quarter. Truist Financial Corp's holdings in LyondellBasell Industries were worth $10,740,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Sanctuary Advisors LLC raised its holdings in LyondellBasell Industries by 10.1% during the fourth quarter. Sanctuary Advisors LLC now owns 65,560 shares of the specialty chemicals company's stock valued at $4,990,000 after acquiring an additional 6,018 shares during the period. KLCM Advisors Inc. bought a new stake in shares of LyondellBasell Industries in the fourth quarter worth about $227,000. Americana Partners LLC increased its holdings in shares of LyondellBasell Industries by 176.2% in the fourth quarter. Americana Partners LLC now owns 51,722 shares of the specialty chemicals company's stock worth $3,841,000 after purchasing an additional 32,994 shares during the last quarter. Kerusso Capital Management LLC increased its holdings in shares of LyondellBasell Industries by 80.3% in the fourth quarter. Kerusso Capital Management LLC now owns 44,368 shares of the specialty chemicals company's stock worth $3,295,000 after purchasing an additional 19,759 shares during the last quarter. Finally, Hourglass Capital LLC grew its position in LyondellBasell Industries by 25.9% in the fourth quarter. Hourglass Capital LLC now owns 105,597 shares of the specialty chemicals company's stock worth $7,843,000 after acquiring an additional 21,715 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the business's stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the purchase, the director now directly owns 18,175 shares of the company's stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LYB. UBS Group dropped their target price on LyondellBasell Industries from $77.00 to $76.00 and set a "neutral" rating for the company in a research report on Monday, February 3rd. Barclays dropped their target price on LyondellBasell Industries from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Mizuho dropped their target price on LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating for the company in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft dropped their target price on LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating for the company in a research note on Thursday, December 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and an average price target of $88.25.

LyondellBasell Industries Price Performance

LYB stock traded down $0.57 during mid-day trading on Friday, reaching $77.05. The company's stock had a trading volume of 2,443,723 shares, compared to its average volume of 2,664,283. The stock has a market cap of $25.02 billion, a PE ratio of 18.61, a P/E/G ratio of 0.97 and a beta of 1.05. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02. The company's 50 day moving average is $75.64 and its two-hundred day moving average is $85.29.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted 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 return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the previous year, the firm posted $1.26 EPS. Equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

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.