Invesco Ltd. Boosts Stake in LyondellBasell Industries (NYSE:LYB)

Invesco Ltd. raised its holdings in LyondellBasell Industries (NYSE:LYB) by 13.5% in the fourth quarter, Holdings Channel reports. The fund owned 5,826,318 shares of the specialty chemicals company’s stock after buying an additional 694,055 shares during the period. Invesco Ltd.’s holdings in LyondellBasell Industries were worth $432,721,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Integrated Wealth Concepts LLC lifted its position in LyondellBasell Industries by 10.6% during the third quarter. Integrated Wealth Concepts LLC now owns 7,460 shares of the specialty chemicals company’s stock worth $715,000 after buying an additional 717 shares in the last quarter. EP Wealth Advisors LLC acquired a new position in shares of LyondellBasell Industries during the 3rd quarter valued at about $778,000. National Bank of Canada FI grew its holdings in shares of LyondellBasell Industries by 59.8% in the third quarter. National Bank of Canada FI now owns 157,330 shares of the specialty chemicals company’s stock valued at $15,088,000 after purchasing an additional 58,875 shares during the period. Zacks Investment Management increased its position in LyondellBasell Industries by 16.9% during the third quarter. Zacks Investment Management now owns 7,862 shares of the specialty chemicals company’s stock worth $754,000 after purchasing an additional 1,137 shares during the last quarter. Finally, MML Investors Services LLC raised its stake in LyondellBasell Industries by 3.5% during the third quarter. MML Investors Services LLC now owns 107,528 shares of the specialty chemicals company’s stock worth $10,312,000 after purchasing an additional 3,600 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the transaction, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on LYB. Citigroup dropped their price target on shares of LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, April 4th. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Morgan Stanley lowered their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $60.00 target price (down previously from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Finally, StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $78.83.

LyondellBasell Industries Trading Down 6.2 %

NYSE:LYB opened at $53.12 on Wednesday. LyondellBasell Industries has a 12-month low of $52.04 and a 12-month high of $107.02. The firm has a market cap of $17.18 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. 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 stock has a fifty day moving average price of $73.04 and a 200 day moving average price of $79.38.

LyondellBasell Industries (NYSE:LYB) last issued its 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 net margin of 3.39% and a return on equity of 15.97%. During the same quarter last year, the firm posted $1.26 earnings per share. Sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 10.09%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

About LyondellBasell Industries

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.