ProShare Advisors LLC Sells 16,599 Shares of LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on Sep 18th, 2023

ProShare Advisors LLC lessened its position in LyondellBasell Industries (NYSE:LYB – Free Report) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,188 shares of the specialty chemicals company’s stock after selling 16,599 shares during the period. ProShare Advisors LLC’s holdings in LyondellBasell Industries were worth $5,557,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aspire Private Capital LLC bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at about $12,017,920,000. Community Bank N.A. bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at about $28,000. Compass Wealth Management LLC bought a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $25,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of LyondellBasell Industries by 109.8% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 363 shares of the specialty chemicals company’s stock worth $34,000 after buying an additional 190 shares during the last quarter. Finally, Delta Asset Management LLC TN acquired a new stake in shares of LyondellBasell Industries during the 4th quarter worth about $33,000. Institutional investors own 91.41% of the company’s stock.

LyondellBasell Industries Trading Down 0.6 %

Shares of LyondellBasell Industries stock opened at $100.04 on Monday. The firm has a market capitalization of $32.43 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 2.56 and a beta of 1.21. The company has a current ratio of 1.81, a quick ratio of 1.07 and a debt-to-equity ratio of 0.79. The firm’s 50 day moving average is $96.72 and its 200 day moving average is $93.01. LyondellBasell Industries has a 1 year low of $71.46 and a 1 year high of $102.04.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last posted its earnings results on Friday, August 4th. The specialty chemicals company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.14. LyondellBasell Industries had a net margin of 4.92% and a return on equity of 21.31%. The firm had revenue of $10.31 billion for the quarter, compared to analyst estimates of $10.79 billion. During the same period in the previous year, the firm posted $5.19 EPS. The company’s revenue for the quarter was down 30.5% compared to the same quarter last year. Equities research analysts forecast that LyondellBasell Industries will post 8.06 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 28th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Friday, August 25th. LyondellBasell Industries’s payout ratio is 77.64%.

Insiders Place Their Bets

In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total value of $975,600.00. Following the transaction, the executive vice president now owns 49,876 shares in the company, valued at approximately $4,865,902.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder Ai Investments Holdings Llc sold 483 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $99.61, for a total value of $48,111.63. Following the transaction, the insider now owns 765,996 shares in the company, valued at approximately $76,300,861.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey A. Kaplan sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total transaction of $975,600.00. Following the transaction, the executive vice president now owns 49,876 shares in the company, valued at approximately $4,865,902.56. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LYB shares. Bank of America raised their target price on shares of LyondellBasell Industries from $92.00 to $99.00 in a research note on Monday, August 7th. Wells Fargo & Company raised their target price on shares of LyondellBasell Industries from $100.00 to $109.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. KeyCorp raised their target price on shares of LyondellBasell Industries from $80.00 to $85.00 and gave the stock an “underweight” rating in a research note on Monday, August 7th. Citigroup lifted their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 8th. Finally, Royal Bank of Canada dropped their price objective on shares of LyondellBasell Industries from $121.00 to $116.00 and set an “outperform” rating for the company in a research note on Wednesday, August 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average target price of $100.06.

View Our Latest Research Report on LYB

LyondellBasell Industries Company Profile

(Free Report)

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.