Assetmark Inc. Boosts Stake in LyondellBasell Industries (NYSE:LYB)

Assetmark Inc. lifted its holdings in LyondellBasell Industries (NYSE:LYB) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,796 shares of the specialty chemicals company’s stock after buying an additional 2,285 shares during the period. Assetmark Inc.’s holdings in LyondellBasell Industries were worth $1,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LYB. Pacer Advisors Inc. lifted its stake in shares of LyondellBasell Industries by 35.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after buying an additional 935,430 shares in the last quarter. Norges Bank purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth about $82,854,000. Invesco Ltd. lifted its stake in shares of LyondellBasell Industries by 24.9% in the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after buying an additional 815,083 shares in the last quarter. FMR LLC increased its position in LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock worth $796,290,000 after purchasing an additional 787,221 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in LyondellBasell Industries during the third quarter worth about $67,160,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LyondellBasell Industries

In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the transaction, the chief accounting officer now owns 27,575 shares in the company, valued at $2,770,460.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the transaction, the chief accounting officer now owns 27,575 shares in the company, valued at $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the transaction, the director now owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,624 shares of company stock worth $5,178,042. Corporate insiders own 0.11% of the company’s stock.

LyondellBasell Industries Trading Up 1.1 %

Shares of LYB stock opened at $98.54 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. The stock has a market capitalization of $32.09 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.22 and a beta of 1.18. The company has a 50 day moving average price of $101.17 and a 200 day moving average price of $97.68. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. Equities research analysts predict that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, June 3rd will be issued a $1.34 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $5.36 dividend on an annualized basis and a dividend yield of 5.44%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s payout ratio is 77.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LYB shares. BMO Capital Markets raised their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 30th. Barclays raised their price objective on shares of LyondellBasell Industries from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Mizuho raised their price objective on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Finally, Wolfe Research started coverage on shares of LyondellBasell Industries in a research report on Friday, March 1st. They set an “underperform” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $105.08.

About LyondellBasell Industries

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.