California Public Employees Retirement System Sells 17,542 Shares of LyondellBasell Industries (NYSE:LYB)

California Public Employees Retirement System trimmed its position in shares of LyondellBasell Industries (NYSE:LYB) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 509,186 shares of the specialty chemicals company’s stock after selling 17,542 shares during the period. California Public Employees Retirement System owned approximately 0.16% of LyondellBasell Industries worth $48,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in LyondellBasell Industries by 10.3% during the 3rd quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after acquiring an additional 787,221 shares in the last quarter. Morgan Stanley raised its stake in LyondellBasell Industries by 9.9% in the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock worth $597,140,000 after buying an additional 569,887 shares in the last quarter. Federated Hermes Inc. lifted its holdings in LyondellBasell Industries by 4.0% during the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock worth $536,752,000 after buying an additional 217,461 shares during the period. Charles Schwab Investment Management Inc. boosted its position in LyondellBasell Industries by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,650,680 shares of the specialty chemicals company’s stock valued at $535,119,000 after acquiring an additional 143,542 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of LyondellBasell Industries by 24.9% in the 3rd quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after acquiring an additional 815,083 shares during the period. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a research report on Wednesday, January 10th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. Wells Fargo & Company increased their target price on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $107.00 price objective on shares of LyondellBasell Industries in a research report on Monday, February 5th. Finally, Citigroup upped their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $103.82.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $102.17 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. The company’s fifty day moving average price is $100.87 and its 200 day moving average price is $96.48. The stock has a market capitalization of $33.25 billion, a P/E ratio of 15.79, a P/E/G ratio of 1.22 and a beta of 1.19. LyondellBasell Industries has a 1 year low of $84.80 and a 1 year high of $106.69.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The business had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The company’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. As a group, equities research analysts anticipate that LyondellBasell Industries will post 8.69 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were given a $1.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.00 annualized dividend and a dividend yield of 4.89%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 77.28%.

Insider Transactions at LyondellBasell Industries

In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total transaction of $711,729.48. Following the completion of the sale, the chief accounting officer now directly owns 27,575 shares in the company, valued at $2,770,460.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now directly owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock valued at $8,077,267 over the last ninety days. Insiders own 0.11% of the company’s stock.

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.