LyondellBasell Industries (NYSE:LYB) Sets New 12-Month Low – Here’s What Happened

LyondellBasell Industries (NYSE:LYB) hit a new 52-week low on Wednesday . The stock traded as low as $72.21 and last traded at $72.82, with a volume of 186153 shares traded. The stock had previously closed at $73.90.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LYB. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Royal Bank of Canada reduced their price objective on shares of LyondellBasell Industries from $104.00 to $92.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Piper Sandler reissued a “neutral” rating and set a $95.00 target price (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday. Finally, Mizuho reduced their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $94.73.

LyondellBasell Industries Trading Down 1.6 %

The firm has a 50 day moving average price of $79.43 and a two-hundred day moving average price of $89.54. The firm has a market capitalization of $23.62 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 2.13 and a beta of 1.06. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the prior year, the business posted $2.46 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. On average, equities research analysts expect that LyondellBasell Industries will post 7.02 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 7.37%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Robin W.T. Buchanan acquired 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now owns 18,175 shares in the company, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings 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 valued at $99,557,000 after purchasing an additional 159,803 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 valued at $501,501,000 after buying an additional 187,150 shares in the last quarter. Quantinno Capital Management LP lifted its position in shares of 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 buying an additional 11,610 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of LyondellBasell Industries by 6.3% during the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock worth $29,489,000 after acquiring an additional 18,311 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of LyondellBasell Industries during the 3rd quarter valued at about $7,537,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Company Profile

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.