7,626 Shares in LyondellBasell Industries (NYSE:LYB) Acquired by Seven Eight Capital LP

Seven Eight Capital LP acquired a new position in shares of LyondellBasell Industries (NYSE:LYB) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,626 shares of the specialty chemicals company’s stock, valued at approximately $716,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Veritable L.P. boosted its position in shares of LyondellBasell Industries by 3.0% during the 1st quarter. Veritable L.P. now owns 9,012 shares of the specialty chemicals company’s stock worth $846,000 after purchasing an additional 260 shares during the period. Prospera Financial Services Inc purchased a new position in shares of LyondellBasell Industries during the 1st quarter worth approximately $250,000. Renaissance Group LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter worth approximately $236,000. State of Tennessee Treasury Department boosted its position in shares of LyondellBasell Industries by 2.0% during the 1st quarter. State of Tennessee Treasury Department now owns 66,981 shares of the specialty chemicals company’s stock worth $6,289,000 after purchasing an additional 1,304 shares during the period. Finally, Deuterium Capital Management LLC purchased a new position in shares of LyondellBasell Industries during the 1st quarter worth approximately $258,000. Hedge funds and other institutional investors own 91.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays decreased their price target on shares of LyondellBasell Industries from $100.00 to $95.00 in a research report on Tuesday, July 11th. Wells Fargo & Company raised their price target on shares of LyondellBasell Industries from $100.00 to $109.00 and gave the company an “overweight” rating in a research report on Tuesday, August 8th. Bank of America raised their price target on shares of LyondellBasell Industries from $92.00 to $99.00 in a research report on Monday, August 7th. BMO Capital Markets raised their price target on shares of LyondellBasell Industries from $102.00 to $104.00 in a research report on Thursday, June 1st. Finally, Piper Sandler decreased their price target on shares of LyondellBasell Industries from $113.00 to $108.00 in a research report on Thursday, June 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $100.06.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $99.38 on Monday. The company’s fifty day moving average price is $95.82 and its 200 day moving average price is $92.88. LyondellBasell Industries has a 12 month low of $71.46 and a 12 month high of $101.39. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.81 and a quick ratio of 1.07. The firm has a market capitalization of $32.22 billion, a P/E ratio of 15.43, a P/E/G ratio of 2.56 and a beta of 1.21.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, August 4th. The specialty chemicals company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.14. The company had revenue of $10.31 billion for the quarter, compared to analyst estimates of $10.79 billion. LyondellBasell Industries had a net margin of 4.92% and a return on equity of 21.31%. LyondellBasell Industries’s quarterly revenue was down 30.5% on a year-over-year basis. During the same period in the previous year, the business posted $5.19 earnings per share. As a group, sell-side analysts predict that LyondellBasell Industries will post 8.06 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 5th. Shareholders of record on Monday, August 28th were paid a $1.25 dividend. The ex-dividend date of this dividend was Friday, August 25th. This represents a $5.00 dividend on an annualized basis and a yield of 5.03%. LyondellBasell Industries’s dividend payout ratio is presently 77.64%.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, major shareholder Ai Investments Holdings Llc sold 483 shares of LyondellBasell Industries stock in a transaction on Friday, August 11th. The shares were sold at an average price of $99.61, for a total value of $48,111.63. Following the transaction, the insider now directly owns 765,996 shares in the company, valued at $76,300,861.56. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $97.56, for a total value of $975,600.00. Following the sale, the executive vice president now owns 49,876 shares of the company’s stock, valued at $4,865,902.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Ai Investments Holdings Llc sold 483 shares of LyondellBasell Industries stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $99.61, for a total transaction of $48,111.63. Following the completion of the sale, the insider now directly owns 765,996 shares in the company, valued at approximately $76,300,861.56. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

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.