Sumitomo Mitsui Trust Group Inc. Has $49.80 Million Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 10.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,475 shares of the specialty chemicals company’s stock after selling 76,185 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in LyondellBasell Industries were worth $49,796,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. HighTower Advisors LLC grew its position in shares of LyondellBasell Industries by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after buying an additional 159,803 shares during the period. JPMorgan Chase & Co. boosted its stake in LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after acquiring an additional 187,150 shares in the last quarter. Quantinno Capital Management LP grew its holdings in LyondellBasell Industries by 23.1% in the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock worth $5,936,000 after purchasing an additional 11,610 shares during the period. Fifth Third Wealth Advisors LLC increased its stake in LyondellBasell Industries by 202.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after purchasing an additional 8,691 shares in the last quarter. Finally, Sound Income Strategies LLC raised its holdings in shares of LyondellBasell Industries by 8.1% during the fourth quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock valued at $20,174,000 after purchasing an additional 20,310 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on LYB shares. Morgan Stanley decreased their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Piper Sandler reiterated a “neutral” rating and issued a $95.00 target price (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. Finally, Royal Bank of Canada raised their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average price target of $89.17.

LyondellBasell Industries Trading Down 1.0 %

Shares of LYB stock opened at $75.84 on Tuesday. LyondellBasell Industries has a 52-week low of $72.21 and a 52-week high of $107.02. The company has a 50-day simple moving average of $75.86 and a two-hundred day simple moving average of $86.43. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 0.92 and a beta of 1.05.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 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 period in the previous year, the company earned $1.26 EPS. Research analysts anticipate that LyondellBasell Industries will post 6.68 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 129.47%.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average price of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

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.