OLD National Bancorp IN Boosts Stock Position in LyondellBasell Industries (NYSE:LYB)

OLD National Bancorp IN grew its stake in LyondellBasell Industries (NYSE:LYB) by 2.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,346 shares of the specialty chemicals company’s stock after purchasing an additional 1,708 shares during the period. OLD National Bancorp IN’s holdings in LyondellBasell Industries were worth $5,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vident Advisory LLC grew its position in shares of LyondellBasell Industries by 0.8% in the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock valued at $1,197,000 after purchasing an additional 131 shares in the last quarter. Lazard Asset Management LLC grew its position in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after purchasing an additional 214 shares in the last quarter. Portside Wealth Group LLC grew its position in shares of LyondellBasell Industries by 2.9% in the first quarter. Portside Wealth Group LLC now owns 7,972 shares of the specialty chemicals company’s stock valued at $592,000 after purchasing an additional 223 shares in the last quarter. Vise Technologies Inc. grew its position in shares of LyondellBasell Industries by 6.7% in the fourth quarter. Vise Technologies Inc. now owns 3,701 shares of the specialty chemicals company’s stock valued at $275,000 after purchasing an additional 234 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of LyondellBasell Industries by 6.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 4,200 shares of the specialty chemicals company’s stock valued at $312,000 after purchasing an additional 238 shares in the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on LYB. Piper Sandler dropped their price target on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Barclays decreased their price objective on LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, May 1st. BMO Capital Markets decreased their price objective on LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Finally, Fermium Researc upgraded LyondellBasell Industries to a “strong-buy” rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average target price of $69.75.

LyondellBasell Industries Stock Up 1.9%

NYSE:LYB opened at $56.63 on Monday. 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’s fifty day moving average is $57.67 and its two-hundred day moving average is $69.49. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $100.46. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The firm had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter last year, the company earned $1.53 earnings per share. The firm’s revenue for the quarter was down 7.6% on a year-over-year basis. Research analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Stockholders of record on Monday, June 2nd will be paid a $1.37 dividend. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a dividend yield of 9.68%. The ex-dividend date of this dividend is Monday, June 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 169.14%.

Insider Activity

In related news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% 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.