Sumitomo Mitsui Trust Group Inc. Sells 76,185 Shares of LyondellBasell Industries (NYSE:LYB)

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,475 shares of the specialty chemicals company's stock after selling 76,185 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of LyondellBasell Industries worth $49,796,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company's stock worth $25,000 after purchasing an additional 159 shares during the last quarter. Webster Bank N. A. raised 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 last quarter. Rosenberg Matthew Hamilton raised its stake in shares of LyondellBasell Industries by 268.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock valued at $30,000 after acquiring an additional 295 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of LyondellBasell Industries during the third quarter valued at about $31,000. Finally, Fortitude Family Office LLC raised its stake in shares of LyondellBasell Industries by 162.0% during the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 290 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock traded up $0.50 during midday trading on Friday, reaching $76.74. 1,481,277 shares of the company traded hands, compared to its average volume of 2,740,532. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 18.54, a price-to-earnings-growth ratio of 0.92 and a beta of 1.05. The business has a 50 day moving average of $75.59 and a two-hundred day moving average of $86.00.

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 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 quarter in the prior year, the company earned $1.26 earnings per share. As a group, research analysts predict that LyondellBasell Industries will post 6.68 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.98%. LyondellBasell Industries's payout ratio is presently 129.47%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LYB. Mizuho lowered their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating for the company in a research note on Monday, December 9th. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Barclays cut 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 report on Monday, February 3rd. Piper Sandler cut their price objective on shares of LyondellBasell Industries from $95.00 to $84.00 and set a "neutral" rating on the stock in a report on Thursday. Finally, Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of "Hold" and an average target price of $88.25.

Insiders Place Their Bets

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction dated Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company's stock.

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.