LyondellBasell Industries (NYSE:LYB) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its holdings in LyondellBasell Industries (NYSE:LYB) by 55.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,430 shares of the specialty chemicals company’s stock after acquiring an additional 5,504 shares during the period. Sterling Capital Management LLC’s holdings in LyondellBasell Industries were worth $1,146,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Webster Bank N. A. increased its stake in shares of LyondellBasell Industries by 70.4% during the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock worth $26,000 after purchasing an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after buying an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in LyondellBasell Industries during the fourth quarter worth $37,000. Covestor Ltd raised its holdings in shares of LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 284 shares during the last quarter. Finally, Pinnacle Bancorp Inc. acquired a new stake in shares of LyondellBasell Industries during the fourth quarter valued at $59,000. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LYB has been the topic of a number of recent research reports. Citigroup reduced their target price on shares of LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating on the stock in a report on Friday, April 4th. Piper Sandler lowered their price objective on shares of LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Barclays lowered their price target on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Tuesday, April 1st. Finally, Morgan Stanley dropped their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $76.50.

LyondellBasell Industries Stock Down 1.3 %

NYSE:LYB opened at $56.70 on Wednesday. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $107.02. The firm has a market capitalization of $18.34 billion, a PE ratio of 13.69, 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 50 day moving average of $70.73 and a 200-day moving average of $77.92.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results 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 net margin of 3.39% and a return on equity of 15.97%. During the same quarter last year, the business earned $1.26 EPS. Analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $1.34 per share. The ex-dividend date was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 9.45%. LyondellBasell Industries’s payout ratio is 129.47%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now directly owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.

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.