Summit Global Investments Has $792,000 Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Summit Global Investments cut its holdings in LyondellBasell Industries (NYSE:LYB) by 33.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,668 shares of the specialty chemicals company’s stock after selling 5,297 shares during the quarter. Summit Global Investments’ holdings in LyondellBasell Industries were worth $792,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Webster Bank N. A. lifted its stake in LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in LyondellBasell Industries by 268.2% in the 4th 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 in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $37,000. Pinnacle Bancorp Inc. bought a new stake in LyondellBasell Industries in the 4th quarter valued at approximately $59,000. Finally, Brooklyn Investment Group bought a new stake in LyondellBasell Industries in the 3rd quarter valued at approximately $60,000. Institutional investors own 71.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LYB shares. Barclays cut their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 4th. Piper Sandler dropped their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, February 3rd. Finally, StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $88.25.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the acquisition, the director now directly owns 16,028 shares in the company, valued at $1,154,817.40. This represents a 30.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Down 1.5 %

LYB stock opened at $71.57 on Monday. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $23.15 billion, a PE ratio of 17.29, a PEG ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a 1-year low of $70.75 and a 1-year high of $107.02. The business’s 50 day simple moving average is $76.12 and its 200 day simple moving average is $81.93.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 EPS 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 period last year, the business earned $1.26 earnings per share. As a group, research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 7.49%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is 129.47%.

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.