Holocene Advisors LP Sells 112,172 Shares of LyondellBasell Industries (NYSE:LYB)

Holocene Advisors LP cut its stake in LyondellBasell Industries (NYSE:LYB) by 18.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 500,400 shares of the specialty chemicals company’s stock after selling 112,172 shares during the quarter. Holocene Advisors LP owned about 0.15% of LyondellBasell Industries worth $47,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC increased its position in shares of LyondellBasell Industries by 155.9% during the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 159 shares during the period. Matrix Trust Co bought a new stake in LyondellBasell Industries during the 3rd quarter worth approximately $30,000. Blue Trust Inc. lifted its stake in LyondellBasell Industries by 311.0% in the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 227 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in LyondellBasell Industries in the 3rd quarter valued at $31,000. Finally, Independence Bank of Kentucky grew its position in shares of LyondellBasell Industries by 125.6% during the 2nd quarter. Independence Bank of Kentucky now owns 388 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 216 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LYB has been the subject of several research analyst reports. Piper Sandler dropped their price objective on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a research note on Friday, November 8th. Barclays dropped their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada decreased their price objective on shares of LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. StockNews.com raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Mizuho lowered 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 report on Monday, November 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and a consensus price target of $101.70.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $82.03 on Tuesday. The firm has a fifty day simple moving average of $88.88 and a two-hundred day simple moving average of $93.62. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. LyondellBasell Industries has a twelve month low of $81.06 and a twelve month high of $107.02. The company has a market capitalization of $26.64 billion, a PE ratio of 12.49, a P/E/G ratio of 2.33 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion during the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the firm posted $2.46 EPS. Research analysts expect that LyondellBasell Industries will post 7.09 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, December 2nd will be paid a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s payout ratio is 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.