LyondellBasell Industries (NYSE:LYB) Trading Down 5.9% – Here’s What Happened

LyondellBasell Industries N.V. (NYSE:LYB) fell 5.9% during mid-day trading on Wednesday . The company traded as low as $76.07 and last traded at $75.80. 4,577,478 shares were traded during mid-day trading, a decline of 42% from the average session volume of 7,910,929 shares. The stock had previously closed at $80.56.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LYB. Bank of America reduced their target price on LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating for the company in a report on Thursday, January 8th. Mizuho boosted their price objective on LyondellBasell Industries from $62.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, March 23rd. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Monday, March 9th. The Goldman Sachs Group reiterated a “sell” rating on shares of LyondellBasell Industries in a report on Monday, February 2nd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.56.

LyondellBasell Industries Stock Down 6.9%

The firm has a market cap of $24.17 billion, a PE ratio of -32.27, a P/E/G ratio of 0.47 and a beta of 0.64. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20. The business has a fifty day moving average price of $61.99 and a two-hundred day moving average price of $51.93.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Saturday, February 21st. The specialty chemicals company reported ($0.26) earnings per share (EPS) for the quarter. LyondellBasell Industries had a positive return on equity of 4.93% and a negative net margin of 2.46%.The business had revenue of $7.09 billion during the quarter. On average, analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were given a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s dividend payout ratio is -118.45%.

Insider Activity at LyondellBasell Industries

In related news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the business’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the transaction, the insider directly owned 5,270,918 shares of the company’s stock, valued at approximately $359,107,643.34. The trade was a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On LyondellBasell Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital A Wealth Management LLC raised its holdings in shares of LyondellBasell Industries by 6,314.3% during the second quarter. Capital A Wealth Management LLC now owns 449 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 442 shares in the last quarter. Parvin Asset Management LLC purchased a new position in LyondellBasell Industries in the second quarter valued at about $26,000. Stance Capital LLC acquired a new position in LyondellBasell Industries in the 3rd quarter worth about $27,000. Quent Capital LLC acquired a new position in LyondellBasell Industries in the 3rd quarter worth about $29,000. Finally, United Community Bank raised its stake in shares of LyondellBasell Industries by 83.2% during the 3rd quarter. United Community Bank now owns 623 shares of the specialty chemicals company’s stock worth $31,000 after purchasing an additional 283 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.