Summit Street Capital Management LLC Sells 10,367 Shares of LyondellBasell Industries (NYSE:LYB)

Summit Street Capital Management LLC reduced its stake in shares of LyondellBasell Industries (NYSE:LYB) by 11.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,806 shares of the specialty chemicals company’s stock after selling 10,367 shares during the period. LyondellBasell Industries accounts for approximately 2.1% of Summit Street Capital Management LLC’s portfolio, making the stock its 25th biggest holding. Summit Street Capital Management LLC’s holdings in LyondellBasell Industries were worth $5,779,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of LYB. Webster Bank N. A. raised its holdings in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 143 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after purchasing an additional 214 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of LyondellBasell Industries in the fourth quarter worth about $37,000. Covestor Ltd increased its stake in shares of LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 284 shares during the period. Finally, Crews Bank & Trust bought a new position in shares of LyondellBasell Industries in the fourth quarter worth about $85,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Trading Up 2.3%

Shares of LYB opened at $59.75 on Friday. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $100.98. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 14.43, a P/E/G ratio of 0.97 and a beta of 0.87. The stock’s 50-day moving average price is $62.28 and its 200 day moving average price is $72.47.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The company had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 earnings per share. As a group, research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 8.97%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is 165.43%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LYB shares. Fermium Researc upgraded LyondellBasell Industries to a “strong-buy” rating in a research note on Friday, April 25th. Barclays dropped their price objective on LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley dropped their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Royal Bank of Canada dropped their price objective on LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Friday, April 4th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $69.75.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This trade represents a 30.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% 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.