abrdn plc Buys 52,954 Shares of LyondellBasell Industries (NYSE:LYB)

abrdn plc lifted its stake in LyondellBasell Industries (NYSE:LYB) by 59.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 141,657 shares of the specialty chemicals company’s stock after purchasing an additional 52,954 shares during the period. abrdn plc’s holdings in LyondellBasell Industries were worth $13,469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valley National Advisers Inc. bought a new position in shares of LyondellBasell Industries in the 3rd quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in LyondellBasell Industries during the third quarter worth about $26,000. FSC Wealth Advisors LLC bought a new position in LyondellBasell Industries during the third quarter worth about $26,000. Venturi Wealth Management LLC lifted its holdings in LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 242 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its holdings in LyondellBasell Industries by 133.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 393 shares of the specialty chemicals company’s stock worth $37,000 after acquiring an additional 225 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on LYB. Wolfe Research began coverage on LyondellBasell Industries in a report on Friday, March 1st. They set an “underperform” rating on the stock. Barclays lifted their target price on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Wells Fargo & Company lifted their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft lowered LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 target price on the stock. in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $103.82.

Insider Buying and Selling

In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total transaction of $711,729.48. Following the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total transaction of $711,729.48. Following the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $100.46, for a total value of $1,819,431.06. Following the sale, the director now directly owns 12,276 shares in the company, valued at approximately $1,233,246.96. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock valued at $8,077,267 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

LyondellBasell Industries Stock Performance

LYB opened at $99.68 on Friday. LyondellBasell Industries has a 52-week low of $84.80 and a 52-week high of $106.69. The firm has a market capitalization of $32.44 billion, a PE ratio of 15.41, a PEG ratio of 1.24 and a beta of 1.19. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. The business’s 50-day simple moving average is $100.78 and its 200 day simple moving average is $96.41.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, February 2nd. The specialty chemicals company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.07). LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The firm had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.85 billion. During the same period in the previous year, the company posted $1.29 EPS. LyondellBasell Industries’s revenue for the quarter was down 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that LyondellBasell Industries will post 8.63 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

LyondellBasell Industries 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.