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

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

Analyst Ratings Changes

Several research analysts have commented on the company. KeyCorp raised LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 target price for the company in a research note on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $52.00 to $75.00 and gave the company a “hold” rating in a research note on Thursday, March 19th. Bank of America lowered their price objective on shares of LyondellBasell Industries from $52.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Wolfe Research dropped their price objective on shares of LyondellBasell Industries from $39.00 to $38.00 and set an “underperform” rating for the company in a research note on Monday, February 2nd. Finally, Fermium Researc raised shares of LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $66.89.

LyondellBasell Industries Trading Up 3.8%

The business’s fifty day moving average is $63.05 and its 200-day moving average is $52.29. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.20 and a current ratio of 1.77. The firm has a market cap of $25.66 billion, a P/E ratio of -34.18, a price-to-earnings-growth ratio of 0.44 and a beta of 0.40.

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

LyondellBasell Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 9th. Investors of record on Monday, March 2nd were given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, March 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -118.45%.

Insider Buying and Selling

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $68.13, for a total value of $26,199,255.24. Following the sale, the insider owned 5,270,918 shares in the company, valued at approximately $359,107,643.34. The trade was a 6.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Institutional investors have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC acquired a new position in shares of LyondellBasell Industries in the 2nd quarter worth approximately $26,000. Capital A Wealth Management LLC raised its stake in 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 buying an additional 442 shares during the last quarter. Stance Capital LLC bought a new position in LyondellBasell Industries during the third quarter worth $27,000. Quent Capital LLC acquired a new position in LyondellBasell Industries in the third quarter valued at $29,000. Finally, Clearstead Advisors LLC boosted its position in LyondellBasell Industries by 140.3% during the fourth quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after acquiring an additional 390 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

About LyondellBasell Industries

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.