First County Bank CT Trims Stock Holdings in LyondellBasell Industries (NYSE:LYB)

First County Bank CT reduced its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 23.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,805 shares of the specialty chemicals company’s stock after selling 2,391 shares during the quarter. First County Bank CT’s holdings in LyondellBasell Industries were worth $748,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Bessemer Group Inc. increased its position in shares of LyondellBasell Industries by 99.4% in the 1st quarter. Bessemer Group Inc. now owns 19,674 shares of the specialty chemicals company’s stock worth $2,013,000 after purchasing an additional 9,809 shares during the last quarter. Lake Street Advisors Group LLC bought a new position in LyondellBasell Industries during the 1st quarter worth approximately $229,000. CANADA LIFE ASSURANCE Co grew its position in shares of LyondellBasell Industries by 2.5% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 163,567 shares of the specialty chemicals company’s stock worth $16,734,000 after acquiring an additional 3,954 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of LyondellBasell Industries in the 1st quarter valued at approximately $427,000. Finally, Pitcairn Co. acquired a new stake in shares of LyondellBasell Industries during the 1st quarter valued at approximately $223,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.5 %

NYSE:LYB opened at $82.86 on Friday. The stock has a fifty day simple moving average of $90.22 and a 200 day simple moving average of $94.47. The firm has a market capitalization of $26.91 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.08. 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 1-year low of $81.45 and a 1-year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued 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). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the company earned $2.46 EPS. LyondellBasell Industries’s revenue for the quarter was down 2.8% on a year-over-year basis. Sell-side analysts forecast that LyondellBasell Industries will post 7.09 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, December 2nd will be paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.47%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho cut 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. Deutsche Bank Aktiengesellschaft lowered their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Piper Sandler reduced their price target on shares of LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating for the company in a report on Friday, November 8th. Finally, StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $101.70.

LyondellBasell Industries 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.