Cary Street Partners Asset Management LLC Has $2.24 Million Holdings in LyondellBasell Industries (NYSE:LYB)

Cary Street Partners Asset Management LLC boosted its stake in shares of LyondellBasell Industries (NYSE:LYB) by 18.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,810 shares of the specialty chemicals company’s stock after buying an additional 3,686 shares during the period. Cary Street Partners Asset Management LLC’s holdings in LyondellBasell Industries were worth $2,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LYB. Charles Schwab Investment Management Inc. increased its holdings in shares of LyondellBasell Industries by 205.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after purchasing an additional 2,995,335 shares during the period. Alliancebernstein L.P. increased its holdings in shares of LyondellBasell Industries by 170.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,331,033 shares of the specialty chemicals company’s stock valued at $276,576,000 after purchasing an additional 2,099,644 shares during the period. Federated Hermes Inc. increased its holdings in shares of LyondellBasell Industries by 93.4% in the 1st quarter. Federated Hermes Inc. now owns 3,996,089 shares of the specialty chemicals company’s stock valued at $375,193,000 after purchasing an additional 1,929,692 shares during the period. FMR LLC increased its holdings in shares of LyondellBasell Industries by 27.6% in the 1st quarter. FMR LLC now owns 5,829,284 shares of the specialty chemicals company’s stock valued at $547,312,000 after purchasing an additional 1,262,433 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of LyondellBasell Industries by 91.7% in the 1st quarter. First Trust Advisors LP now owns 1,227,127 shares of the specialty chemicals company’s stock valued at $126,173,000 after purchasing an additional 586,864 shares during the period. Institutional investors and hedge funds own 91.41% of the company’s stock.

Insider Activity at LyondellBasell Industries

In related news, EVP Jeffrey A. Kaplan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total value of $975,600.00. Following the transaction, the executive vice president now owns 49,876 shares in the company, valued at $4,865,902.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $97.56, for a total transaction of $975,600.00. Following the transaction, the executive vice president now owns 49,876 shares in the company, valued at $4,865,902.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Ai Investments Holdings Llc sold 483 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $99.61, for a total value of $48,111.63. Following the transaction, the insider now owns 765,996 shares in the company, valued at approximately $76,300,861.56. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded up $0.54 during trading hours on Friday, reaching $99.38. The stock had a trading volume of 2,173,343 shares, compared to its average volume of 1,861,865. The business’s fifty day moving average is $95.82 and its two-hundred day moving average is $92.90. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.81 and a quick ratio of 1.07. The company has a market cap of $32.22 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.56 and a beta of 1.21. LyondellBasell Industries has a twelve month low of $71.46 and a twelve month high of $101.39.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, August 4th. The specialty chemicals company reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.14. LyondellBasell Industries had a return on equity of 21.31% and a net margin of 4.92%. The firm had revenue of $10.31 billion during the quarter, compared to analyst estimates of $10.79 billion. During the same period in the prior year, the company posted $5.19 earnings per share. The business’s revenue for the quarter was down 30.5% compared to the same quarter last year. As a group, research analysts expect that LyondellBasell Industries will post 8.06 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 5th. Investors of record on Monday, August 28th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 5.03%. The ex-dividend date was Friday, August 25th. LyondellBasell Industries’s dividend payout ratio is 77.64%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LYB. KeyCorp upped their target price on LyondellBasell Industries from $80.00 to $85.00 and gave the company an “underweight” rating in a report on Monday, August 7th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Wells Fargo & Company increased their price objective on LyondellBasell Industries from $100.00 to $109.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Citigroup increased their price objective on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a report on Tuesday, August 8th. Finally, BMO Capital Markets upped their target price on LyondellBasell Industries from $102.00 to $104.00 in a research report on Thursday, June 1st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $100.06.

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.