American Trust Takes Position in LyondellBasell Industries (NYSE:LYB)

Posted by MarketBeat News on Mar 19th, 2023

American Trust acquired a new stake in LyondellBasell Industries (NYSE:LYB – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,728 shares of the specialty chemicals company’s stock, valued at approximately $205,000.

Several other large investors have also made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its stake in shares of LyondellBasell Industries by 26.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 240,698 shares of the specialty chemicals company’s stock valued at $18,119,000 after purchasing an additional 50,157 shares during the period. Aurora Investment Counsel lifted its stake in shares of LyondellBasell Industries by 16.4% in the 3rd quarter. Aurora Investment Counsel now owns 16,952 shares of the specialty chemicals company’s stock valued at $1,276,000 after purchasing an additional 2,387 shares during the period. Toroso Investments LLC lifted its stake in shares of LyondellBasell Industries by 14.7% in the 3rd quarter. Toroso Investments LLC now owns 25,330 shares of the specialty chemicals company’s stock valued at $1,907,000 after purchasing an additional 3,253 shares during the period. IHT Wealth Management LLC acquired a new position in shares of LyondellBasell Industries in the 3rd quarter valued at $265,000. Finally, Coombe Bender & Co LLC lifted its stake in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. Coombe Bender & Co LLC now owns 25,044 shares of the specialty chemicals company’s stock valued at $1,885,000 after purchasing an additional 889 shares during the period. 91.12% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Down 0.4 %

Shares of LYB opened at $84.68 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.04 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $27.60 billion, a P/E ratio of 7.18, a P/E/G ratio of 1.17 and a beta of 1.21. The firm has a 50-day moving average price of $94.41 and a 200 day moving average price of $85.94. LyondellBasell Industries has a 12-month low of $71.46 and a 12-month high of $117.22.

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LyondellBasell Industries (NYSE:LYB – Get Rating) last announced its earnings results on Friday, February 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.20. The company had revenue of $10.21 billion during the quarter, compared to analyst estimates of $10.73 billion. LyondellBasell Industries had a net margin of 7.71% and a return on equity of 32.96%. LyondellBasell Industries’s revenue was down 20.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.63 earnings per share. Sell-side analysts forecast that LyondellBasell Industries will post 9.01 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, March 6th were paid a dividend of $1.19 per share. This represents a $4.76 annualized dividend and a yield of 5.62%. The ex-dividend date was Friday, March 3rd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 40.34%.

Insiders Place Their Bets

In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $98.99, for a total value of $989,900.00. Following the completion of the transaction, the executive vice president now owns 47,600 shares of the company’s stock, valued at $4,711,924. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.18% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of LyondellBasell Industries from $97.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, February 6th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of LyondellBasell Industries from $85.00 to $100.00 and gave the stock a “hold” rating in a research report on Monday, February 6th. StockNews.com began coverage on shares of LyondellBasell Industries in a research report on Thursday. They set a “hold” rating for the company. Citigroup upped their price objective on shares of LyondellBasell Industries from $80.00 to $92.00 in a research report on Thursday, December 15th. Finally, KeyCorp reduced their price objective on shares of LyondellBasell Industries from $85.00 to $74.00 and set an “underweight” rating for the company in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $98.95.

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.