Prudential PLC Trims Stake in LyondellBasell Industries (NYSE:LYB)

Prudential PLC reduced its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 72.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,189 shares of the specialty chemicals company's stock after selling 8,527 shares during the quarter. Prudential PLC's holdings in LyondellBasell Industries were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Webster Bank N. A. grew its stake in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after buying an additional 143 shares during the last quarter. Cairn Investment Group Inc. lifted its holdings 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 purchasing an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in LyondellBasell Industries by 5.2% in 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 increased its position in LyondellBasell Industries by 14.9% during 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 during the period. Finally, Caprock Group LLC lifted its holdings in shares of LyondellBasell Industries by 5.8% during the fourth quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company's stock worth $298,000 after buying an additional 220 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

LYB has been the topic of a number of recent research reports. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Morgan Stanley dropped their price target on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Barclays lowered their target price on LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Royal Bank of Canada lowered LyondellBasell Industries from an "outperform" rating to a "sector perform" rating and set a $62.00 price target on the stock. in a research note on Wednesday, April 9th. Finally, StockNews.com cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $76.50.

Insider Buying and Selling

In other news, Director Michael Sean Hanley purchased 3,750 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now directly owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock traded up $0.78 during mid-day trading on Monday, hitting $57.67. 653,605 shares of the stock were exchanged, compared to its average volume of 2,408,066. The company has a market capitalization of $18.65 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The company has a 50-day simple moving average of $71.54 and a 200 day simple moving average of $78.34. LyondellBasell Industries has a 12 month low of $51.11 and a 12 month high of $107.02.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released 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 return on equity of 15.97% and a net margin of 3.39%. During the same period in the prior year, the firm earned $1.26 EPS. Sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $1.34 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.36 annualized dividend and a dividend yield of 9.29%. LyondellBasell Industries's payout ratio is currently 129.47%.

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.