Wedge Capital Management L L P NC Has $6.15 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

Wedge Capital Management L L P NC raised its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,865 shares of the specialty chemicals company's stock after purchasing an additional 7,474 shares during the period. Wedge Capital Management L L P NC's holdings in LyondellBasell Industries were worth $6,154,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LYB. CVA Family Office LLC raised its holdings in shares of LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company's stock valued at $25,000 after purchasing an additional 159 shares in the last quarter. Matrix Trust Co bought a new position in LyondellBasell Industries during the third quarter valued at about $30,000. Rosenberg Matthew Hamilton lifted its position in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock worth $30,000 after buying an additional 295 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of LyondellBasell Industries during the 3rd quarter worth about $31,000. Finally, Fortitude Family Office LLC increased its holdings in shares of LyondellBasell Industries by 162.0% during the 3rd quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company's stock valued at $45,000 after acquiring an additional 290 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

Shares of LYB stock traded up $0.72 during trading hours on Friday, hitting $77.35. The company had a trading volume of 1,866,485 shares, compared to its average volume of 2,516,248. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The firm has a market capitalization of $25.12 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.74 and a beta of 1.06. LyondellBasell Industries has a 12 month low of $72.21 and a 12 month high of $107.02. The firm's fifty day moving average is $77.63 and its 200 day moving average is $88.41.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.98 by ($0.10). The company had revenue of $10.33 billion for the quarter, compared to the consensus estimate of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.46 earnings per share. On average, sell-side analysts predict that LyondellBasell Industries will post 6.8 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. The ex-dividend date was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.93%. LyondellBasell Industries's payout ratio is 81.58%.

Analysts Set New Price Targets

LYB has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price on LyondellBasell Industries from $104.00 to $92.00 and set an "outperform" rating for the company in a research report on Thursday, December 19th. Piper Sandler reaffirmed a "neutral" rating and set a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Mizuho dropped their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a "neutral" rating on the stock in a report on Monday, December 9th. StockNews.com cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on LyondellBasell Industries from $100.00 to $94.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $94.33.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the business's stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now owns 18,175 shares in the company, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.11% of the company's stock.

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.