DnB Asset Management AS Boosts Stock Position in LyondellBasell Industries (NYSE:LYB)

DnB Asset Management AS increased its position in LyondellBasell Industries (NYSE:LYB) by 3.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,282 shares of the specialty chemicals company’s stock after acquiring an additional 1,902 shares during the quarter. DnB Asset Management AS’s holdings in LyondellBasell Industries were worth $3,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Webster Bank N. A. raised its position in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares during the period. Rosenberg Matthew Hamilton raised its holdings in LyondellBasell Industries by 268.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 295 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at about $37,000. Pinnacle Bancorp Inc. bought a new position in shares of LyondellBasell Industries in the fourth quarter worth about $59,000. Finally, Crews Bank & Trust purchased a new stake in shares of LyondellBasell Industries during the fourth quarter worth about $85,000. Institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LYB shares. The Goldman Sachs Group dropped their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Royal Bank of Canada raised their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. UBS Group decreased their price target on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $88.25.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $70.44 on Tuesday. The business’s 50 day moving average price is $75.44 and its 200-day moving average price is $80.94. LyondellBasell Industries has a fifty-two week low of $69.15 and a fifty-two week high of $107.02. The company has a market cap of $22.78 billion, a P/E ratio of 17.01, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the prior year, the firm posted $1.26 EPS. Sell-side analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 7.61%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Michael Sean Hanley bought 3,750 shares of the stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.11% of the company’s stock.

LyondellBasell Industries Company 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.