Public Employees Retirement System of Ohio Trims Position in LyondellBasell Industries (NYSE:LYB)

Public Employees Retirement System of Ohio reduced its stake in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,142 shares of the specialty chemicals company's stock after selling 7,357 shares during the quarter. Public Employees Retirement System of Ohio's holdings in LyondellBasell Industries were worth $12,672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. increased its position in shares of LyondellBasell Industries by 211.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company's stock worth $123,055,000 after purchasing an additional 871,708 shares in the last quarter. Pacer Advisors Inc. grew its stake in LyondellBasell Industries by 13.6% during the 2nd quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company's stock worth $461,930,000 after buying an additional 579,300 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in LyondellBasell Industries by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company's stock worth $769,500,000 after buying an additional 362,671 shares during the period. Ensign Peak Advisors Inc grew its position in LyondellBasell Industries by 80.7% in the 2nd quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company's stock valued at $74,523,000 after buying an additional 347,877 shares during the last quarter. Finally, State Street Corp increased its stake in 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 buying an additional 230,327 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of LyondellBasell Industries from $100.00 to $90.00 and set an "overweight" rating on the stock in a report on Friday, December 6th. The Goldman Sachs Group lowered their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating on the stock in a report on Thursday. Wells Fargo & Company cut their target price on LyondellBasell Industries from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Tuesday. Piper Sandler dropped their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an "overweight" rating on the stock in a report on Friday, November 8th. Finally, Royal Bank of Canada cut their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating for the company in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $97.36.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded down $0.28 during midday trading on Thursday, hitting $76.17. 2,418,672 shares of the stock were exchanged, compared to its average volume of 1,970,570. The stock has a market cap of $24.74 billion, a P/E ratio of 11.71, a PEG ratio of 2.13 and a beta of 1.05. LyondellBasell Industries has a twelve month low of $75.98 and a twelve month high of $107.02. The company has a 50 day moving average price of $86.12 and a 200-day moving average price of $92.48. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the previous year, the firm posted $2.46 EPS. The business's revenue was down 2.8% on a year-over-year basis. On average, research analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries's dividend payout ratio (DPR) is presently 81.58%.

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.