Summit Global Investments Sells 8,503 Shares of LyondellBasell Industries (NYSE:LYB)

Summit Global Investments trimmed its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 34.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,965 shares of the specialty chemicals company's stock after selling 8,503 shares during the quarter. Summit Global Investments' holdings in LyondellBasell Industries were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LYB. Capital World Investors grew its stake in LyondellBasell Industries by 28.9% during the first quarter. Capital World Investors now owns 2,675,701 shares of the specialty chemicals company's stock worth $273,671,000 after buying an additional 600,554 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in shares of LyondellBasell Industries during the first quarter valued at approximately $61,327,000. Pacer Advisors Inc. grew its stake in shares of LyondellBasell Industries by 13.6% during the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company's stock valued at $461,930,000 after purchasing an additional 579,300 shares during the last quarter. Ensign Peak Advisors Inc grew its stake in shares of LyondellBasell Industries by 80.7% during the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company's stock valued at $74,523,000 after purchasing an additional 347,877 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of LyondellBasell Industries during the second quarter valued at approximately $17,683,000. 71.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of LyondellBasell Industries from $99.00 to $95.00 and set an "equal weight" rating on the stock in a research note on Monday, November 4th. Royal Bank of Canada decreased their price target on shares of LyondellBasell Industries from $110.00 to $104.00 and set an "outperform" rating on the stock in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price objective on shares of LyondellBasell Industries from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Monday, November 4th. Finally, Mizuho reduced their price objective on shares of LyondellBasell Industries from $101.00 to $97.00 and set a "neutral" rating on the stock in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $101.70.

LyondellBasell Industries Stock Down 2.3 %

Shares of NYSE:LYB traded down $2.03 during midday trading on Friday, reaching $85.30. 3,327,973 shares of the company were exchanged, compared to its average volume of 2,181,519. LyondellBasell Industries has a fifty-two week low of $83.36 and a fifty-two week high of $107.02. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $92.32 and a two-hundred day simple moving average of $95.54. The firm has a market cap of $27.70 billion, a PE ratio of 12.98, a P/E/G ratio of 2.39 and a beta of 1.08.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 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 company 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 business earned $2.46 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that LyondellBasell Industries will post 7.16 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, August 26th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 6.28%. The ex-dividend date was Monday, August 26th. LyondellBasell Industries's dividend payout ratio (DPR) is currently 81.58%.

LyondellBasell Industries Company Profile

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.