Praxis Investment Management Inc. Sells 12,220 Shares of LyondellBasell Industries N.V. $LYB

Praxis Investment Management Inc. trimmed its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 20.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,170 shares of the specialty chemicals company’s stock after selling 12,220 shares during the period. Praxis Investment Management Inc.’s holdings in LyondellBasell Industries were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its position in LyondellBasell Industries by 2.4% in the 2nd quarter. Bank of Montreal Can now owns 651,236 shares of the specialty chemicals company’s stock worth $37,681,000 after purchasing an additional 15,264 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of LyondellBasell Industries by 62.2% during the second quarter. Rockefeller Capital Management L.P. now owns 42,321 shares of the specialty chemicals company’s stock valued at $2,583,000 after buying an additional 16,234 shares during the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of LyondellBasell Industries by 375.1% in the second quarter. Kingsview Wealth Management LLC now owns 18,007 shares of the specialty chemicals company’s stock worth $1,042,000 after buying an additional 14,217 shares during the period. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of LyondellBasell Industries by 69.1% in the 2nd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock valued at $14,456,000 after acquiring an additional 102,140 shares during the last quarter. Finally, Norges Bank bought a new stake in LyondellBasell Industries in the second quarter valued at approximately $280,000,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Kimberly A. Foley bought 5,661 shares of LyondellBasell Industries stock in a transaction dated Wednesday, November 12th. The shares were purchased at an average cost of $43.56 per share, with a total value of $246,593.16. Following the transaction, the executive vice president directly owned 67,688 shares of the company’s stock, valued at $2,948,489.28. This represents a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LYB. Mizuho cut their target price on shares of LyondellBasell Industries from $52.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday. The Goldman Sachs Group dropped their target price on shares of LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a report on Friday, October 17th. Evercore ISI reduced their price target on LyondellBasell Industries from $65.00 to $57.00 and set an “in-line” rating on the stock in a report on Tuesday, November 11th. BMO Capital Markets reiterated an “underperform” rating and issued a $36.00 price objective (down from $48.00) on shares of LyondellBasell Industries in a research report on Monday. Finally, Jefferies Financial Group reduced their target price on LyondellBasell Industries from $50.00 to $46.00 and set a “hold” rating on the stock in a research note on Monday, December 8th. Three equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of “Reduce” and a consensus target price of $54.71.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $44.43 on Monday. The company has a 50-day simple moving average of $45.63 and a two-hundred day simple moving average of $52.78. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 0.93. The firm has a market capitalization of $14.30 billion, a PE ratio of -11.85 and a beta of 0.71. LyondellBasell Industries N.V. has a one year low of $41.58 and a one year high of $79.39.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, October 31st. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.21. The firm had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.41 billion. LyondellBasell Industries had a positive return on equity of 7.50% and a negative net margin of 3.70%.The business’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.88 EPS. On average, analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 8th. Shareholders of record on Monday, December 1st were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $5.48 annualized dividend and a yield of 12.3%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently -146.13%.

LyondellBasell Industries 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.