KLP Kapitalforvaltning AS Makes New $6.64 Million Investment in LyondellBasell Industries (NYSE:LYB)

KLP Kapitalforvaltning AS bought a new stake in shares of LyondellBasell Industries (NYSE:LYB) during the fourth quarter, HoldingsChannel reports. The firm bought 89,331 shares of the specialty chemicals company’s stock, valued at approximately $6,635,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. boosted its stake in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after acquiring an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in shares of 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 purchasing an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of LyondellBasell Industries in the 4th quarter worth approximately $37,000. Pinnacle Bancorp Inc. purchased a new stake in shares of LyondellBasell Industries in the 4th quarter worth approximately $59,000. Finally, Brooklyn Investment Group bought a new position in LyondellBasell Industries during the 3rd quarter valued at approximately $60,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LYB shares. Royal Bank of Canada boosted their target price on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler reduced their price objective on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Mizuho dropped their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, Barclays reduced their price target on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.25.

Insider Activity

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $69.92 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $22.62 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The firm’s 50 day moving average price is $75.95 and its 200-day moving average price is $81.60. LyondellBasell Industries has a twelve month low of $69.79 and a twelve month high of $107.02.

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

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 7.67%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

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.