Truvestments Capital LLC Cuts Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Truvestments Capital LLC lowered its stake in LyondellBasell Industries (NYSE:LYB) by 90.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 326 shares of the specialty chemicals company’s stock after selling 2,943 shares during the quarter. Truvestments Capital LLC’s holdings in LyondellBasell Industries were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new position in shares of LyondellBasell Industries during the 3rd quarter valued at approximately $5,290,000. Daiwa Securities Group Inc. lifted its position in LyondellBasell Industries by 12.2% during the third quarter. Daiwa Securities Group Inc. now owns 31,802 shares of the specialty chemicals company’s stock valued at $3,050,000 after purchasing an additional 3,453 shares during the last quarter. Marco Investment Management LLC grew its stake in shares of LyondellBasell Industries by 0.9% in the 3rd quarter. Marco Investment Management LLC now owns 209,570 shares of the specialty chemicals company’s stock worth $20,098,000 after buying an additional 1,885 shares in the last quarter. Pekin Hardy Strauss Inc. increased its holdings in shares of LyondellBasell Industries by 5.2% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 26,257 shares of the specialty chemicals company’s stock worth $2,518,000 after buying an additional 1,290 shares during the last quarter. Finally, Sompo Asset Management Co. Ltd. raised its position in shares of LyondellBasell Industries by 7.5% during the 3rd quarter. Sompo Asset Management Co. Ltd. now owns 57,555 shares of the specialty chemicals company’s stock valued at $5,520,000 after buying an additional 4,032 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday, November 22nd. Mizuho decreased their price target on LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Barclays dropped their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler reduced their target price on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $83.04 on Thursday. The company’s 50 day moving average is $89.36 and its 200 day moving average is $93.92. 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 firm has a market cap of $26.97 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 2.35 and a beta of 1.08. LyondellBasell Industries has a 52-week low of $81.45 and a 52-week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly 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). The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 earnings per share. On average, sell-side analysts anticipate that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.45%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s payout ratio is currently 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.