Parallel Advisors LLC Increases Stake in LyondellBasell Industries (NYSE:LYB)

Parallel Advisors LLC grew its position in LyondellBasell Industries (NYSE:LYB) by 26.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,789 shares of the specialty chemicals company’s stock after acquiring an additional 994 shares during the period. Parallel Advisors LLC’s holdings in LyondellBasell Industries were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in LYB. State Street Corp boosted its holdings in 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 purchasing an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after buying an additional 558,137 shares during the period. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 277,108 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in 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 worth $501,501,000 after acquiring an additional 187,150 shares during the period. Finally, Amundi raised its position in LyondellBasell Industries by 48.6% in the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after acquiring an additional 1,260,913 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

LYB opened at $71.57 on Friday. LyondellBasell Industries has a twelve month low of $70.75 and a twelve month high of $107.02. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 0.97 and a beta of 1.06. 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 company has a fifty day simple moving average of $76.12 and a 200 day simple moving average of $82.11.

LyondellBasell Industries (NYSE:LYB) last announced 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 return on equity of 15.97% and a net margin of 3.39%. During the same period in the previous year, the business earned $1.26 EPS. Equities research analysts expect that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 7.49%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 129.47%.

Insider Transactions at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The shares were purchased 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 $1,154,817.40. The trade was a 30.54 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

LYB has been the topic of a number of recent analyst reports. The Goldman Sachs Group lowered their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Piper Sandler dropped their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. decreased their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their target price on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $88.25.

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.