Highland Capital Management LLC Sells 1,030 Shares of LyondellBasell Industries (NYSE:LYB)

Highland Capital Management LLC lessened its stake in shares of LyondellBasell Industries (NYSE:LYB) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,875 shares of the specialty chemicals company’s stock after selling 1,030 shares during the quarter. Highland Capital Management LLC’s holdings in LyondellBasell Industries were worth $3,259,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CVA Family Office LLC boosted its stake in LyondellBasell Industries by 155.9% in the third quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares in the last quarter. Matrix Trust Co purchased a new position in LyondellBasell Industries during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new position in LyondellBasell Industries during the 3rd quarter valued at about $31,000. Webster Bank N. A. raised its stake in LyondellBasell Industries by 70.4% in the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 143 shares during the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 295 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan bought 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $76.04 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.13 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $76.76 and its 200-day simple moving average is $87.49. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 5.07 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data 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). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the firm posted $2.46 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Analysts expect that LyondellBasell Industries will post 6.48 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were issued a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a yield of 7.05%. LyondellBasell Industries’s payout ratio is 81.58%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LYB. Barclays cut their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Friday, December 6th. Finally, The Goldman Sachs Group lowered their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $94.33.

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.