Wedge Capital Management L L P NC Grows Stock Position in LyondellBasell Industries (NYSE:LYB)

Wedge Capital Management L L P NC increased its holdings in LyondellBasell Industries (NYSE:LYB) by 9.9% in the 4th quarter, HoldingsChannel reports. The fund owned 82,865 shares of the specialty chemicals company’s stock after purchasing an additional 7,474 shares during the quarter. Wedge Capital Management L L P NC’s holdings in LyondellBasell Industries were worth $6,154,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC grew its holdings in shares of LyondellBasell Industries by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after purchasing an additional 159,803 shares during the period. JPMorgan Chase & Co. lifted its position in LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after buying an additional 187,150 shares during the last quarter. Quantinno Capital Management LP boosted its stake in LyondellBasell Industries by 23.1% during the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock worth $5,936,000 after buying an additional 11,610 shares during the period. Fifth Third Wealth Advisors LLC increased its position in shares of LyondellBasell Industries by 202.4% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after acquiring an additional 8,691 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of LyondellBasell Industries by 6.3% in the 3rd quarter. Principal Financial Group Inc. now owns 307,496 shares of the specialty chemicals company’s stock valued at $29,489,000 after acquiring an additional 18,311 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by insiders.

LyondellBasell Industries Trading Up 0.9 %

NYSE LYB opened at $77.35 on Friday. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02. The firm has a 50 day moving average of $77.63 and a two-hundred day moving average of $88.46. The stock has a market capitalization of $25.12 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.74 and a beta of 1.06. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $2.46 EPS. As a group, research analysts expect that LyondellBasell Industries will post 6.8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s payout ratio is 81.58%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LYB shares. The Goldman Sachs Group lowered their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler reissued a “neutral” rating and set a $95.00 target price (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Mizuho dropped their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Finally, Morgan Stanley reduced their price target on shares of LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $94.33.

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.