FineMark National Bank & Trust Sells 189 Shares of LyondellBasell Industries (NYSE:LYB)

FineMark National Bank & Trust cut its holdings in LyondellBasell Industries (NYSE:LYB) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,824 shares of the specialty chemicals company’s stock after selling 189 shares during the period. FineMark National Bank & Trust’s holdings in LyondellBasell Industries were worth $878,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp raised its holdings in LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after purchasing an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after buying an additional 558,137 shares during the period. Geode Capital Management LLC lifted its position in shares of LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after buying an additional 277,108 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after acquiring an additional 187,150 shares during the period. Finally, Amundi increased its holdings in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after acquiring an additional 1,260,913 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Down 2.8 %

Shares of LYB opened at $69.92 on Wednesday. The business’s 50 day simple moving average is $75.95 and its 200-day simple moving average is $81.60. LyondellBasell Industries has a 1 year low of $69.79 and a 1 year high of $107.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The stock has a market capitalization of $22.62 billion, a price-to-earnings ratio of 16.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the company posted $1.26 EPS. As a group, equities analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $1.34 per share. The ex-dividend date was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 7.67%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insider Activity

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Royal Bank of Canada lifted their price target 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. Barclays lowered their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. The Goldman Sachs Group cut their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. UBS Group lowered their price objective on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Finally, Piper Sandler cut their target price 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $88.25.

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.