Suntrust Banks Inc. Sells 4,339 Shares of LyondellBasell Industries NV (NYSE:LYB)
Suntrust Banks Inc. cut its holdings in shares of LyondellBasell Industries NV (NYSE:LYB) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 294,086 shares of the specialty chemicals company’s stock after selling 4,339 shares during the period. Suntrust Banks Inc. owned about 0.07% of LyondellBasell Industries worth $32,442,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Segment Wealth Management LLC boosted its position in LyondellBasell Industries by 2.6% during the 4th quarter. Segment Wealth Management LLC now owns 37,514 shares of the specialty chemicals company’s stock worth $4,138,000 after buying an additional 959 shares during the period. Torray LLC raised its holdings in LyondellBasell Industries by 7.0% during the 3rd quarter. Torray LLC now owns 14,320 shares of the specialty chemicals company’s stock worth $1,418,000 after purchasing an additional 940 shares during the last quarter. Guardian Capital LP bought a new position in LyondellBasell Industries during the 3rd quarter worth approximately $363,000. Wells Fargo & Company MN raised its holdings in LyondellBasell Industries by 27.4% during the 3rd quarter. Wells Fargo & Company MN now owns 1,750,468 shares of the specialty chemicals company’s stock worth $173,383,000 after purchasing an additional 376,317 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI bought a new position in LyondellBasell Industries during the 3rd quarter worth approximately $736,000. Institutional investors and hedge funds own 75.15% of the company’s stock.
Several research analysts have issued reports on the stock. Royal Bank of Canada restated a “hold” rating and set a $119.00 price target on shares of LyondellBasell Industries in a report on Thursday, January 25th. Cowen restated a “hold” rating and set a $125.00 price target on shares of LyondellBasell Industries in a report on Wednesday, January 31st. ValuEngine upgraded shares of LyondellBasell Industries from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Wells Fargo & Co restated an “outperform” rating and set a $125.00 price target (up previously from $110.00) on shares of LyondellBasell Industries in a report on Wednesday, January 17th. Finally, Zacks Investment Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a report on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $108.24.
LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.18. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.82 billion. LyondellBasell Industries had a net margin of 14.15% and a return on equity of 55.09%. LyondellBasell Industries’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 EPS. analysts expect that LyondellBasell Industries NV will post 10.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 12th. Shareholders of record on Monday, March 5th were paid a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend was Friday, March 2nd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $0.78. LyondellBasell Industries’s payout ratio is 39.18%.
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LyondellBasell Industries Company Profile
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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