Sumitomo Mitsui DS Asset Management Company Ltd Purchases 4,322 Shares of LyondellBasell Industries (NYSE:LYB)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of LyondellBasell Industries (NYSE:LYB) by 9.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,464 shares of the specialty chemicals company’s stock after buying an additional 4,322 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in LyondellBasell Industries were worth $3,822,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of LYB. State Street Corp increased its stake in shares of LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after acquiring an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after purchasing an additional 362,671 shares during the period. Geode Capital Management LLC increased its stake in LyondellBasell Industries by 4.4% in the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock valued at $638,964,000 after purchasing an additional 277,108 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of LyondellBasell Industries by 3.7% during 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 purchasing an additional 187,150 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after purchasing an additional 293,622 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Down 1.5 %

Shares of LYB stock opened at $76.61 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 firm has a market cap of $24.88 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 0.92 and a beta of 1.05. The business has a 50-day moving average price of $75.86 and a two-hundred day moving average price of $86.49. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) 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 period in the previous year, the business posted $1.26 earnings per share. Equities analysts anticipate that LyondellBasell Industries will post 6.68 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were paid a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.00%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 129.47%.

Insider Activity

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the purchase, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

LYB has been the topic of a number of research reports. UBS Group lowered their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada upped their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Piper Sandler reiterated a “neutral” rating and set a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Morgan Stanley lowered their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group cut their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $89.17.

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.