Truist Financial Corp Has $2.52 Million Stock Holdings in LyondellBasell Industries N.V. $LYB

Truist Financial Corp trimmed its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 54.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,391 shares of the specialty chemicals company’s stock after selling 62,202 shares during the quarter. Truist Financial Corp’s holdings in LyondellBasell Industries were worth $2,520,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in LYB. Capital A Wealth Management LLC raised its position 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 during the last quarter. MTM Investment Management LLC bought a new position in LyondellBasell Industries in the second quarter valued at $26,000. Parvin Asset Management LLC bought a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $26,000. EMC Capital Management bought a new position in LyondellBasell Industries during the second quarter worth about $29,000. Finally, Vermillion & White Wealth Management Group LLC grew its stake in LyondellBasell Industries by 97.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 534 shares of the specialty chemicals company’s stock valued at $31,000 after buying an additional 264 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LYB shares. Weiss Ratings restated a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Thursday, January 22nd. Wells Fargo & Company upped their price target on LyondellBasell Industries from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, February 2nd. Zacks Research upgraded LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. KeyCorp restated a “sector weight” rating on shares of LyondellBasell Industries in a research note on Monday. Finally, Wall Street Zen downgraded shares of LyondellBasell Industries from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. One equities research analyst has rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Reduce” and a consensus price target of $51.06.

LyondellBasell Industries Price Performance

LYB stock opened at $55.17 on Friday. The firm has a 50 day moving average of $47.12 and a 200-day moving average of $49.45. The firm has a market capitalization of $17.76 billion, a P/E ratio of -23.68, a price-to-earnings-growth ratio of 0.37 and a beta of 0.70. LyondellBasell Industries N.V. has a 12 month low of $41.58 and a 12 month high of $78.52. The company has a current ratio of 1.77, a quick ratio of 1.20 and a debt-to-equity ratio of 1.20.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, January 30th. The specialty chemicals company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.44). The firm had revenue of $7.09 billion during the quarter, compared to analysts’ expectations of $6.82 billion. LyondellBasell Industries had a positive return on equity of 4.94% and a negative net margin of 2.46%.The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, sell-side analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 8th. Investors of record on Monday, December 1st were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 9.9%. The ex-dividend date was Monday, December 1st. LyondellBasell Industries’s payout ratio is presently -235.19%.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Kimberly A. Foley purchased 5,661 shares of the stock in a transaction on Wednesday, November 12th. The shares were purchased at an average price of $43.56 per share, with a total value of $246,593.16. Following the acquisition, the executive vice president directly owned 67,688 shares in the company, valued at approximately $2,948,489.28. The trade was a 9.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.