Russell Investments Group Ltd. Raises Position in LyondellBasell Industries (NYSE:LYB)

Russell Investments Group Ltd. lifted its stake in LyondellBasell Industries (NYSE:LYB) by 18.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 363,874 shares of the specialty chemicals company’s stock after purchasing an additional 56,463 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of LyondellBasell Industries worth $27,007,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LYB. 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 buying an additional 143 shares during the period. Cairn Investment Group Inc. lifted its holdings in shares of LyondellBasell Industries by 0.4% in the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after acquiring an additional 155 shares during the last quarter. Alliance Wealth Advisors LLC UT boosted its stake in shares of LyondellBasell Industries by 5.2% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after purchasing an additional 177 shares during the period. Y.D. More Investments Ltd grew its holdings in LyondellBasell Industries by 14.9% during the 4th quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock valued at $111,000 after purchasing an additional 194 shares during the last quarter. Finally, Caprock Group LLC raised its position in LyondellBasell Industries by 5.8% in the 4th quarter. Caprock Group LLC now owns 4,008 shares of the specialty chemicals company’s stock worth $298,000 after purchasing an additional 220 shares during the period. Institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada increased their price target on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. Barclays decreased their target price on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. UBS Group reiterated a “sell” rating and set a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday. Finally, Piper Sandler dropped their target price on shares of LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $78.83.

Insider Buying and Selling

In related news, Director Michael Sean Hanley bought 3,750 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Price Performance

LYB opened at $53.12 on Wednesday. The firm has a market capitalization 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 debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The business’s 50-day moving average is $73.04 and its two-hundred day moving average is $79.38. LyondellBasell Industries has a 1 year low of $52.04 and a 1 year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted $1.26 earnings per share. Research 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 disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 10.09%. LyondellBasell Industries’s payout ratio is 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.