LyondellBasell Industries (NYSE:LYB) Shares Sold by Convergence Investment Partners LLC

Convergence Investment Partners LLC cut its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,373 shares of the specialty chemicals company’s stock after selling 616 shares during the period. Convergence Investment Partners LLC’s holdings in LyondellBasell Industries were worth $1,367,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of LYB. Pacer Advisors Inc. grew its stake in shares of LyondellBasell Industries by 35.5% during the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock valued at $339,624,000 after acquiring an additional 935,430 shares in the last quarter. Invesco Ltd. grew its stake in shares of LyondellBasell Industries by 24.9% during the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock valued at $386,894,000 after acquiring an additional 815,083 shares in the last quarter. FMR LLC grew its stake in shares of LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after acquiring an additional 787,221 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in LyondellBasell Industries in the third quarter worth about $67,160,000. Finally, Bank of Nova Scotia grew its stake in LyondellBasell Industries by 3,162.5% in the third quarter. Bank of Nova Scotia now owns 614,259 shares of the specialty chemicals company’s stock worth $58,170,000 after purchasing an additional 595,431 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

Shares of LYB traded up $2.45 during mid-day trading on Friday, reaching $102.13. 2,651,865 shares of the company’s stock traded hands, compared to its average volume of 1,436,825. The business’s 50-day moving average price is $100.87 and its 200-day moving average price is $96.50. The stock has a market capitalization of $33.24 billion, a P/E ratio of 15.79, a price-to-earnings-growth ratio of 1.25 and a beta of 1.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. LyondellBasell Industries has a 12 month low of $84.80 and a 12 month high of $106.69.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. The company had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a return on equity of 21.89% and a net margin of 5.16%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 earnings per share. Equities analysts predict that LyondellBasell Industries will post 8.69 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a dividend of $1.25 per share. The ex-dividend date was Friday, March 1st. This represents a $5.00 annualized dividend and a yield of 4.90%. LyondellBasell Industries’s payout ratio is 77.28%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on LYB shares. Vertical Research upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. lifted their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a research note on Wednesday, January 10th. Citigroup lifted their target price on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company lifted their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and a consensus target price of $103.82.

Insider Buying and Selling

In related news, EVP Kenneth Todd Lane sold 9,489 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $98.92, for a total transaction of $938,651.88. Following the sale, the executive vice president now owns 89,445 shares of the company’s stock, valued at $8,847,899.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now owns 12,276 shares in the company, valued at $1,233,246.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kenneth Todd Lane sold 9,489 shares of LyondellBasell Industries stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $98.92, for a total transaction of $938,651.88. Following the completion of the transaction, the executive vice president now owns 89,445 shares in the company, valued at approximately $8,847,899.40. The disclosure for this sale can be found here. Insiders have sold a total of 80,853 shares of company stock valued at $8,077,267 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

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.