LyondellBasell Industries (NYSE:LYB) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. reduced its stake in shares of LyondellBasell Industries (NYSE:LYB) by 5.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 12,856 shares of the specialty chemicals company’s stock after selling 725 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in LyondellBasell Industries were worth $955,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Webster Bank N. A. increased its stake in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Cairn Investment Group Inc. raised its stake in shares of LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after buying an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its position in shares of LyondellBasell Industries by 5.2% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after buying an additional 177 shares in the last quarter. Y.D. More Investments Ltd grew its stake in LyondellBasell Industries by 14.9% in the 4th quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock valued at $111,000 after acquiring an additional 194 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in LyondellBasell Industries by 5.8% during the 4th quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company’s stock valued at $298,000 after acquiring an additional 220 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Michael Sean Hanley purchased 3,750 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the acquisition, the director now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Trading Down 1.6 %

Shares of LYB opened at $69.81 on Friday. LyondellBasell Industries has a twelve month low of $69.74 and a twelve month high of $107.02. The firm has a market capitalization of $22.58 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The stock’s fifty day simple moving average is $75.58 and its 200 day simple moving average is $81.28.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 period last year, the business earned $1.26 earnings per share. On average, equities research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 7.68%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 129.47%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Mizuho lowered their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Morgan Stanley dropped their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Piper Sandler dropped their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Royal Bank of Canada upped their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $88.25.

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.