RBA Wealth Management LLC Cuts Stock Holdings in LyondellBasell Industries (NYSE:LYB)


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RBA Wealth Management LLC reduced its stake in LyondellBasell Industries (NYSE:LYB) by 5.3% during the first quarter, Holdings Channel.com reports. The institutional investor owned 10,099 shares of the specialty chemicals company’s stock after selling 562 shares during the period. RBA Wealth Management LLC’s holdings in LyondellBasell Industries were worth $1,051,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Morgan Stanley boosted its holdings in shares of LyondellBasell Industries by 2.4% in the 4th quarter. Morgan Stanley now owns 3,458,786 shares of the specialty chemicals company’s stock worth $317,032,000 after buying an additional 80,206 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of LyondellBasell Industries by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,185,319 shares of the specialty chemicals company’s stock worth $291,952,000 after buying an additional 26,430 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of LyondellBasell Industries by 320.2% in the 4th quarter. Alliancebernstein L.P. now owns 2,527,707 shares of the specialty chemicals company’s stock worth $231,690,000 after buying an additional 1,926,169 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in LyondellBasell Industries by 6.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,505,664 shares of the specialty chemicals company’s stock valued at $138,009,000 after acquiring an additional 90,177 shares during the period. Finally, Epoch Investment Partners Inc. raised its stake in LyondellBasell Industries by 9.6% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,291,353 shares of the specialty chemicals company’s stock valued at $118,365,000 after acquiring an additional 113,493 shares during the period. 67.61% of the stock is currently owned by institutional investors.

In related news, SVP Kimberly A. Foley sold 2,261 shares of the firm’s stock in a transaction on Monday, February 22nd. The stock was sold at an average price of $103.50, for a total value of $234,013.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 2,562 shares of company stock valued at $263,516 in the last ninety days. 0.18% of the stock is currently owned by insiders.

LYB has been the topic of a number of research reports. Alembic Global Advisors upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Monday, March 1st. Wells Fargo & Company upgraded LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $100.00 to $130.00 in a research report on Monday, March 8th. Deutsche Bank Aktiengesellschaft upped their price target on LyondellBasell Industries from $94.00 to $115.00 and gave the company a “hold” rating in a research report on Wednesday, March 24th. Exane BNP Paribas cut shares of LyondellBasell Industries from a “neutral” rating to an “underperform” rating and set a $80.00 price objective on the stock. in a research report on Wednesday, January 6th. Finally, Bank of America upgraded shares of LyondellBasell Industries from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $100.00 to $115.00 in a research report on Monday, February 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $87.59.

Shares of NYSE:LYB traded up $0.02 during trading on Friday, reaching $107.12. 7,325 shares of the company traded hands, compared to its average volume of 1,729,150. The business’s fifty day moving average is $105.87 and its 200-day moving average is $90.88. LyondellBasell Industries has a 52-week low of $44.33 and a 52-week high of $112.73. The firm has a market capitalization of $35.79 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 1.58 and a beta of 1.55. The company has a current ratio of 2.25, a quick ratio of 1.41 and a debt-to-equity ratio of 1.88.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Thursday, January 28th. The specialty chemicals company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.83. LyondellBasell Industries had a return on equity of 24.09% and a net margin of 4.23%. The company had revenue of $7.94 billion during the quarter, compared to analyst estimates of $7.06 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The firm’s revenue was down 3.0% on a year-over-year basis. On average, sell-side analysts predict that LyondellBasell Industries will post 4.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 8th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Friday, March 5th. LyondellBasell Industries’s payout ratio is 43.66%.

LyondellBasell Industries Profile

LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.

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Institutional Ownership by Quarter for LyondellBasell Industries (NYSE:LYB)

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