Trustmark National Bank Trust Department decreased its position in shares of LyondellBasell Industries NV (NYSE:LYB) by 78.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,732 shares of the specialty chemicals company’s stock after selling 10,012 shares during the period. Trustmark National Bank Trust Department’s holdings in LyondellBasell Industries were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Torray LLC increased its stake in LyondellBasell Industries by 7.0% during the 3rd quarter. Torray LLC now owns 14,320 shares of the specialty chemicals company’s stock valued at $1,418,000 after purchasing an additional 940 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of LyondellBasell Industries by 0.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 345,401 shares of the specialty chemicals company’s stock worth $34,212,000 after acquiring an additional 2,500 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of LyondellBasell Industries by 40.5% in the third quarter. Oppenheimer & Co. Inc. now owns 23,484 shares of the specialty chemicals company’s stock worth $2,326,000 after acquiring an additional 6,769 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of LyondellBasell Industries in the third quarter worth $206,000. Finally, Norinchukin Bank The increased its stake in shares of LyondellBasell Industries by 7.2% in the third quarter. Norinchukin Bank The now owns 45,498 shares of the specialty chemicals company’s stock worth $4,507,000 after acquiring an additional 3,059 shares during the period. Institutional investors and hedge funds own 74.29% of the company’s stock.
In other news, Director Jagjeet S. Bindra sold 1,574 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $103.73, for a total value of $163,271.02. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.09% of the company’s stock.
A number of research firms have recently weighed in on LYB. Royal Bank Of Canada increased their price objective on shares of LyondellBasell Industries from $102.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 31st. Nomura reissued a “hold” rating and set a $99.00 price target (up from $90.00) on shares of LyondellBasell Industries in a report on Tuesday, September 26th. SunTrust Banks reissued a “hold” rating and set a $100.00 price target on shares of LyondellBasell Industries in a report on Wednesday, November 1st. ValuEngine raised shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 6th. Finally, UBS increased their price target on shares of LyondellBasell Industries from $88.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $100.47.
LyondellBasell Industries NV (NYSE:LYB) opened at $103.81 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.40 and a quick ratio of 1.49. The firm has a market cap of $41,063.32, a PE ratio of 10.77, a PEG ratio of 1.16 and a beta of 1.07. LyondellBasell Industries NV has a 52 week low of $78.01 and a 52 week high of $107.83.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, December 5th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, December 4th. LyondellBasell Industries’s dividend payout ratio is currently 38.59%.
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About LyondellBasell Industries
LyondellBasell Industries N.V. is a chemical company. The Company operates in five segments: Olefins and Polyolefins-Americas (O&P-Americas), Olefins and Polyolefins-Europe, Asia, International (O&P-EAI), Intermediates and Derivatives (I&D), Refining and Technology. The O&P-Americas segment produces and markets olefins and co-products, polyethylene and polypropylene.
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