Summit Global Investments Sells 5,297 Shares of LyondellBasell Industries (NYSE:LYB)

Summit Global Investments cut its stake in LyondellBasell Industries (NYSE:LYB - Free Report) by 33.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,668 shares of the specialty chemicals company's stock after selling 5,297 shares during the period. Summit Global Investments' holdings in LyondellBasell Industries were worth $792,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of LYB. Lingohr Asset Management GmbH bought a new position in LyondellBasell Industries during the 4th quarter worth about $542,000. Arvest Investments Inc. lifted its holdings in LyondellBasell Industries by 36.7% during the 4th quarter. Arvest Investments Inc. now owns 20,791 shares of the specialty chemicals company's stock worth $1,544,000 after purchasing an additional 5,586 shares during the last quarter. Xponance Inc. increased its holdings in shares of LyondellBasell Industries by 13.8% during the fourth quarter. Xponance Inc. now owns 41,107 shares of the specialty chemicals company's stock worth $3,053,000 after purchasing an additional 5,000 shares during the period. Generali Asset Management SPA SGR bought a new stake in LyondellBasell Industries during the fourth quarter worth about $792,000. Finally, Retirement Planning Co of New England Inc. increased its stake in shares of LyondellBasell Industries by 141.7% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 6,054 shares of the specialty chemicals company's stock valued at $450,000 after purchasing an additional 3,549 shares during the last quarter. Institutional investors own 71.20% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LYB shares. The Goldman Sachs Group reduced their price objective on shares of 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 boosted their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an "outperform" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $90.00 to $80.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Barclays decreased their target price on LyondellBasell Industries from $90.00 to $80.00 and set an "equal weight" rating for the company in a research report on Monday, February 3rd. Finally, Mizuho lowered their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of "Hold" and a consensus price target of $88.25.

Insider Transactions at LyondellBasell Industries

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

LyondellBasell Industries Stock Down 0.2 %

LYB stock traded down $0.11 during midday trading on Thursday, hitting $70.95. The company's stock had a trading volume of 3,277,961 shares, compared to its average volume of 2,108,805. LyondellBasell Industries has a 52-week low of $69.62 and a 52-week high of $107.02. The firm has a market capitalization of $22.95 billion, a P/E ratio of 17.14, a PEG ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The firm has a 50-day simple moving average of $75.85 and a 200-day simple moving average of $81.53.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced 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 net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the previous year, the firm earned $1.26 earnings per share. As a group, equities analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 7.55%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's payout ratio is 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.