LyondellBasell Industries (NYSE:LYB) Shares Sold by Kiltearn Partners LLP

Kiltearn Partners LLP cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 16.2% during the third quarter, HoldingsChannel.com reports. The fund owned 336,200 shares of the specialty chemicals company’s stock after selling 64,800 shares during the period. LyondellBasell Industries accounts for about 4.4% of Kiltearn Partners LLP’s holdings, making the stock its 7th largest holding. Kiltearn Partners LLP’s holdings in LyondellBasell Industries were worth $32,242,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in LyondellBasell Industries by 13.6% in the second quarter. Pacer Advisors Inc. now owns 4,828,869 shares of the specialty chemicals company’s stock valued at $461,930,000 after purchasing an additional 579,300 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock valued at $769,500,000 after acquiring an additional 362,671 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in LyondellBasell Industries by 80.7% in the second quarter. Ensign Peak Advisors Inc now owns 779,040 shares of the specialty chemicals company’s stock valued at $74,523,000 after acquiring an additional 347,877 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in shares of LyondellBasell Industries during the 2nd quarter worth $17,683,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of LyondellBasell Industries by 3.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,695,361 shares of the specialty chemicals company’s stock worth $449,175,000 after acquiring an additional 170,464 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYB has been the topic of a number of research reports. Piper Sandler dropped their price target on LyondellBasell Industries from $117.00 to $112.00 and set an “overweight” rating on the stock in a research note on Friday, November 8th. Mizuho cut their price target on shares of LyondellBasell Industries from $101.00 to $97.00 and set a “neutral” rating for the company in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Evercore ISI upgraded LyondellBasell Industries to a “hold” rating in a research report on Monday, August 5th. Finally, Royal Bank of Canada lowered their price objective on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating for the company in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $101.70.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $82.14 on Wednesday. LyondellBasell Industries has a 12 month low of $81.45 and a 12 month high of $107.02. The company’s fifty day moving average is $89.57 and its 200-day moving average is $94.00. The firm has a market cap of $26.68 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 2.35 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 (NYSE:LYB) last released 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). The firm had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 EPS. Equities analysts expect that LyondellBasell Industries will post 7.09 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, December 2nd will be given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.53%. The ex-dividend date is Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio is currently 81.58%.

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.