Synovus Financial Corp Makes New Investment in LyondellBasell Industries (NYSE:LYB)

Synovus Financial Corp acquired a new stake in LyondellBasell Industries (NYSE:LYB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 27,826 shares of the specialty chemicals company's stock, valued at approximately $2,067,000.

Several other large investors have also made changes to their positions in LYB. Charles Schwab Investment Management Inc. grew its position in shares of LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company's stock valued at $637,394,000 after purchasing an additional 558,137 shares during the period. Geode Capital Management LLC boosted its stake in shares of LyondellBasell Industries by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company's stock worth $512,913,000 after acquiring an additional 199,054 shares during the last quarter. Invesco Ltd. raised its stake in LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after purchasing an additional 694,055 shares during the last quarter. JPMorgan Chase & Co. lifted its stake 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 worth $501,501,000 after purchasing an additional 187,150 shares in the last quarter. Finally, Amundi boosted its holdings in LyondellBasell Industries by 48.6% in the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company's stock valued at $283,452,000 after purchasing an additional 1,260,913 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley purchased 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.11% of the company's stock.

LyondellBasell Industries Trading Up 1.4 %

NYSE LYB traded up $0.81 during mid-day trading on Friday, reaching $56.75. 4,039,552 shares of the stock were exchanged, compared to its average volume of 2,455,289. The stock has a market capitalization of $18.36 billion, a PE ratio of 13.71, a PEG ratio of 0.97 and a beta of 0.89. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $107.02. The business's fifty day simple moving average is $69.54 and its 200 day simple moving average is $77.23.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate 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 quarter last year, the business posted $1.26 EPS. On average, research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.44%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries's dividend payout ratio is presently 129.47%.

Analysts Set New Price Targets

A number of brokerages have issued reports on LYB. Barclays cut their target price 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. Piper Sandler dropped their price objective on LyondellBasell Industries from $84.00 to $67.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Citigroup lowered their price target on shares of LyondellBasell Industries from $75.00 to $66.00 and set a "neutral" rating on the stock in a research note on Friday, April 4th. Finally, UBS Group restated a "sell" rating and issued a $51.00 price target (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $76.50.

LyondellBasell Industries Company 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.