Industrial Alliance Investment Management Inc. Has $3.53 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

Industrial Alliance Investment Management Inc. raised its holdings in LyondellBasell Industries (NYSE:LYB – Get Rating) by 0.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 46,876 shares of the specialty chemicals company’s stock after acquiring an additional 142 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in LyondellBasell Industries were worth $3,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AlphaCrest Capital Management LLC grew its holdings in shares of LyondellBasell Industries by 123.8% during the 2nd quarter. AlphaCrest Capital Management LLC now owns 20,328 shares of the specialty chemicals company’s stock worth $1,778,000 after purchasing an additional 11,243 shares in the last quarter. Credit Agricole S A grew its holdings in shares of LyondellBasell Industries by 32.8% during the 3rd quarter. Credit Agricole S A now owns 16,472 shares of the specialty chemicals company’s stock worth $1,240,000 after purchasing an additional 4,073 shares in the last quarter. Sawtooth Solutions LLC grew its holdings in shares of LyondellBasell Industries by 23.7% during the 3rd quarter. Sawtooth Solutions LLC now owns 4,709 shares of the specialty chemicals company’s stock worth $354,000 after purchasing an additional 901 shares in the last quarter. Commerce Bank grew its holdings in shares of LyondellBasell Industries by 21.2% during the 3rd quarter. Commerce Bank now owns 54,050 shares of the specialty chemicals company’s stock worth $4,069,000 after purchasing an additional 9,456 shares in the last quarter. Finally, Great West Life Assurance Co. Can acquired a new stake in shares of LyondellBasell Industries during the 3rd quarter worth approximately $16,520,000. Institutional investors and hedge funds own 91.12% of the company’s stock.

LyondellBasell Industries Stock Down 3.7 %

NYSE LYB opened at $84.16 on Thursday. The stock has a fifty day moving average of $94.56 and a 200-day moving average of $85.94. The stock has a market capitalization of $27.44 billion, a P/E ratio of 7.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. LyondellBasell Industries has a 52 week low of $71.46 and a 52 week high of $117.22. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 1.75.

LyondellBasell Industries (NYSE:LYB – Get Rating) last released its earnings results on Friday, February 3rd. The specialty chemicals company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.09 by $0.20. LyondellBasell Industries had a return on equity of 32.96% and a net margin of 7.71%. The company had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.73 billion. During the same period last year, the firm earned $3.63 EPS. The business’s revenue for the quarter was down 20.5% on a year-over-year basis. On average, equities research analysts forecast that LyondellBasell Industries will post 9.01 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Monday, March 6th were paid a dividend of $1.19 per share. The ex-dividend date was Friday, March 3rd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 5.66%. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 40.34%.

Insider Buying and Selling

In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $98.99, for a total transaction of $989,900.00. Following the completion of the sale, the executive vice president now directly owns 47,600 shares of the company’s stock, valued at $4,711,924. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft raised their target price on LyondellBasell Industries from $85.00 to $100.00 and gave the stock a “hold” rating in a research report on Monday, February 6th. KeyCorp raised their target price on LyondellBasell Industries from $83.00 to $85.00 and gave the stock an “underweight” rating in a research report on Monday, February 6th. Piper Sandler raised their target price on LyondellBasell Industries from $95.00 to $104.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Wells Fargo & Company raised their target price on LyondellBasell Industries from $97.00 to $109.00 and gave the stock an “overweight” rating in a research report on Monday, February 6th. Finally, Mizuho raised their target price on LyondellBasell Industries from $89.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.53.

LyondellBasell Industries Company Profile

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.