Bank of Nova Scotia Boosts Holdings in LyondellBasell Industries (NYSE:LYB)

Bank of Nova Scotia increased its position in LyondellBasell Industries (NYSE:LYB - Free Report) by 416.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 176,923 shares of the specialty chemicals company's stock after purchasing an additional 142,652 shares during the quarter. Bank of Nova Scotia owned approximately 0.05% of LyondellBasell Industries worth $13,140,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LYB. Amundi grew its position in LyondellBasell Industries by 48.6% during the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company's stock worth $283,452,000 after buying an additional 1,260,913 shares in the last quarter. Norges Bank purchased a new position in LyondellBasell Industries during the 4th quarter worth $81,015,000. Raymond James Financial Inc. purchased a new position in shares of LyondellBasell Industries in the 4th quarter valued at about $69,115,000. Wellington Management Group LLP raised its position in LyondellBasell Industries by 35.9% in the fourth quarter. Wellington Management Group LLP now owns 2,870,666 shares of the specialty chemicals company's stock valued at $213,204,000 after purchasing an additional 757,612 shares during the period. Finally, Invesco Ltd. increased its holdings in LyondellBasell Industries by 13.5% in the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after buying an additional 694,055 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Insider Transactions at LyondellBasell Industries

In other news, Director Michael Sean Hanley purchased 3,750 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by corporate insiders.

LyondellBasell Industries Stock Up 0.5 %

Shares of LYB traded up $0.31 during midday trading on Wednesday, reaching $57.01. The stock had a trading volume of 1,325,480 shares, compared to its average volume of 2,429,537. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $107.02. The company's fifty day simple moving average is $70.73 and its two-hundred day simple moving average is $77.92. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The company has a market cap of $18.44 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing analysts' consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the prior year, the company posted $1.26 EPS. Equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 9.40%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 129.47%.

Analysts Set New Price Targets

LYB has been the topic of several research reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $60.00 price objective (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Citigroup dropped their target price on shares of LyondellBasell Industries from $75.00 to $66.00 and set a "neutral" rating on the stock in a report on Friday, April 4th. Morgan Stanley cut their target price on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. StockNews.com cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Finally, Barclays cut their price objective on LyondellBasell Industries from $80.00 to $72.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and a consensus target price of $76.50.

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.