New York State Teachers Retirement System Sells 14,649 Shares of LyondellBasell Industries (NYSE:LYB)

by · The Cerbat Gem

New York State Teachers Retirement System lessened its stake in LyondellBasell Industries (NYSE:LYB – Free Report) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 239,323 shares of the specialty chemicals company’s stock after selling 14,649 shares during the period. New York State Teachers Retirement System owned 0.07% of LyondellBasell Industries worth $22,951,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CVA Family Office LLC raised its position in shares of LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares during the last quarter. Chilton Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at $27,000. Beacon Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the 1st quarter valued at $28,000. Matrix Trust Co bought a new stake in shares of LyondellBasell Industries during the 3rd quarter valued at $30,000. Finally, Blue Trust Inc. raised its position in shares of LyondellBasell Industries by 311.0% during the 2nd quarter. Blue Trust Inc. now owns 300 shares of the specialty chemicals company’s stock valued at $31,000 after acquiring an additional 227 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of LyondellBasell Industries from $105.00 to $110.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $113.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, September 13th. UBS Group decreased their target price on LyondellBasell Industries from $106.00 to $101.00 and set a “neutral” rating for the company in a research note on Tuesday, July 9th. Royal Bank of Canada dropped their price target on LyondellBasell Industries from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Finally, Barclays decreased their price objective on LyondellBasell Industries from $101.00 to $99.00 and set an “equal weight” rating for the company in a research report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $106.33.

View Our Latest Research Report on LyondellBasell Industries

LyondellBasell Industries Stock Down 0.3 %

Shares of LyondellBasell Industries stock opened at $86.57 on Friday. LyondellBasell Industries has a 52-week low of $85.64 and a 52-week high of $107.02. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.28 and a current ratio of 2.10. The business’s 50 day simple moving average is $93.56 and its 200 day simple moving average is $96.04. The firm has a market cap of $28.14 billion, a PE ratio of 12.18, a P/E/G ratio of 1.65 and a beta of 1.07.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The specialty chemicals company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $0.01. The business had revenue of $10.56 billion for the quarter, compared to analyst estimates of $10.44 billion. LyondellBasell Industries had a net margin of 5.68% and a return on equity of 18.63%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.44 earnings per share. On average, analysts predict that LyondellBasell Industries will post 7.53 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, August 26th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a dividend yield of 6.19%. The ex-dividend date of this dividend was Monday, August 26th. LyondellBasell Industries’s payout ratio is 75.39%.

About LyondellBasell Industries

(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.

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