Proficio Capital Partners LLC Takes Position in LyondellBasell Industries (NYSE:LYB)

Proficio Capital Partners LLC purchased a new stake in LyondellBasell Industries (NYSE:LYB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 50,627 shares of the specialty chemicals company's stock, valued at approximately $3,760,000.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp grew its position in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company's stock worth $1,170,183,000 after purchasing an additional 230,327 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company's stock worth $637,394,000 after buying an additional 558,137 shares in the last quarter. Geode Capital Management LLC increased its stake in LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company's stock worth $638,964,000 after acquiring an additional 277,108 shares during the period. JPMorgan Chase & Co. raised its holdings in LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company's stock valued at $501,501,000 after acquiring an additional 187,150 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of LyondellBasell Industries by 11.4% during the 3rd quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company's stock valued at $268,664,000 after acquiring an additional 293,622 shares during the period. 71.20% of the stock is owned by institutional investors.

Remove Ads

LyondellBasell Industries Stock Down 1.5 %

LyondellBasell Industries stock traded down $1.12 during mid-day trading on Friday, reaching $71.57. The stock had a trading volume of 12,969,553 shares, compared to its average volume of 2,088,694. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. The stock's 50-day simple moving average is $76.14 and its 200-day simple moving average is $82.30. The firm has a market capitalization of $23.15 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a fifty-two week low of $70.77 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 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 prior year, the business earned $1.26 EPS. On average, sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.49%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 129.47%.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the stock in a transaction dated Wednesday, March 12th. The shares were bought 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 approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LYB has been the topic of several analyst reports. Mizuho reduced their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating on the stock in a research report on Monday, December 9th. Royal Bank of Canada lifted their price target on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, February 4th. Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, February 3rd. Morgan Stanley lowered their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Finally, The Goldman Sachs Group cut their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a "sell" rating on the stock in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.25.

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.