M&T Bank Corp Cuts Stake in LyondellBasell Industries (NYSE:LYB)

M&T Bank Corp cut its stake in LyondellBasell Industries (NYSE:LYB) by 0.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,280 shares of the specialty chemicals company’s stock after selling 146 shares during the quarter. M&T Bank Corp’s holdings in LyondellBasell Industries were worth $1,849,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Rockland Trust Co. lifted its position in shares of LyondellBasell Industries by 0.9% in the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock valued at $1,253,000 after acquiring an additional 112 shares in the last quarter. Petredis Investment Advisors LLC lifted its holdings in LyondellBasell Industries by 0.5% in the 3rd quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock valued at $2,215,000 after purchasing an additional 116 shares in the last quarter. Verdence Capital Advisors LLC boosted its stake in LyondellBasell Industries by 0.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,905 shares of the specialty chemicals company’s stock worth $1,330,000 after purchasing an additional 120 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of LyondellBasell Industries by 25.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock worth $58,000 after buying an additional 122 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of LyondellBasell Industries by 3.4% in the second quarter. Deseret Mutual Benefit Administrators now owns 4,055 shares of the specialty chemicals company’s stock valued at $388,000 after buying an additional 132 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $75.67 on Friday. The stock has a market cap of $24.57 billion, a P/E ratio of 11.52, a P/E/G ratio of 2.16 and a beta of 1.05. LyondellBasell Industries has a twelve month low of $74.92 and a twelve month high of $107.02. The stock has a 50 day moving average of $85.32 and a two-hundred day moving average of $92.16. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 EPS. On average, research analysts forecast that LyondellBasell Industries will post 7.02 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 7.08%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Analyst Ratings Changes

LYB has been the subject of several research reports. Barclays dropped their price objective on shares of LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group dropped their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday. Royal Bank of Canada cut their price target on LyondellBasell Industries from $110.00 to $104.00 and set an “outperform” rating on the stock in a research note on Monday, November 4th. StockNews.com raised LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 30th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $97.36.

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.