New York State Teachers Retirement System Cuts Stock Position in LyondellBasell Industries (NYSE:LYB)

New York State Teachers Retirement System lowered its stake in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,858 shares of the specialty chemicals company's stock after selling 26,465 shares during the quarter. New York State Teachers Retirement System owned approximately 0.07% of LyondellBasell Industries worth $15,809,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LYB. State Street Corp lifted its holdings in shares of LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company's stock valued at $1,170,183,000 after purchasing an additional 230,327 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company's stock valued at $769,500,000 after acquiring an additional 362,671 shares during the period. Geode Capital Management LLC grew its position in shares of LyondellBasell Industries by 4.4% during the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company's stock worth $638,964,000 after acquiring an additional 277,108 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company's stock valued at $501,501,000 after acquiring an additional 187,150 shares during the period. Finally, Franklin Resources Inc. raised its position in 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 purchasing an additional 293,622 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now owns 18,175 shares of the company's stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

LyondellBasell Industries Price Performance

NYSE LYB traded up $0.13 during mid-day trading on Thursday, hitting $77.63. The stock had a trading volume of 1,725,444 shares, compared to its average volume of 2,670,968. The company has a 50 day simple moving average of $75.62 and a 200 day simple moving average of $85.35. The company has a market cap of $25.21 billion, a price-to-earnings ratio of 18.75, a P/E/G ratio of 0.98 and a beta of 1.05. LyondellBasell Industries has a 52-week low of $72.21 and a 52-week high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the company posted $1.26 EPS. Equities analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.90%. LyondellBasell Industries's dividend payout ratio is currently 129.47%.

Analyst Ratings Changes

A number of brokerages have recently commented on LYB. Piper Sandler reduced their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. The Goldman Sachs Group lowered 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. Royal Bank of Canada upped their price target on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 4th. Finally, Barclays dropped their price objective on shares of 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. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $88.25.

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.