International Assets Investment Management LLC Makes New $14 Million Investment in LyondellBasell Industries (NYSE:LYB)

International Assets Investment Management LLC bought a new stake in LyondellBasell Industries (NYSE:LYB) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 147,242 shares of the specialty chemicals company’s stock, valued at approximately $14,000,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley National Advisers Inc. purchased a new stake in LyondellBasell Industries in the 3rd quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of LyondellBasell Industries during the third quarter worth approximately $26,000. Venturi Wealth Management LLC grew its position in LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 242 shares in the last quarter. Webster Bank N. A. increased its stake in LyondellBasell Industries by 7,050.0% in the 4th quarter. Webster Bank N. A. now owns 429 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 423 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of LyondellBasell Industries during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LYB shares. Barclays increased their price objective on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Citigroup lifted their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a report on Wednesday, April 10th. Royal Bank of Canada increased their price objective on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Wolfe Research began coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They set an “underperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $104.75.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $99.12 on Friday. The company has a market cap of $32.28 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.42 and a beta of 1.18. The business has a 50 day moving average price of $101.07 and a 200 day moving average price of $96.71. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. LyondellBasell Industries has a twelve month low of $84.80 and a twelve month high of $106.69.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. During the same period in the prior year, the business earned $2.50 earnings per share. LyondellBasell Industries’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts predict that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were given a $1.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.00 annualized dividend and a yield of 5.04%. LyondellBasell Industries’s dividend payout ratio is 77.28%.

Insider Transactions at LyondellBasell Industries

In related news, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the sale, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at $9,101,476.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other LyondellBasell Industries news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at approximately $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the transaction, the executive vice president now directly owns 91,758 shares of the company’s stock, valued at $9,101,476.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,853 shares of company stock worth $8,077,267. 0.11% of the stock is currently owned by company insiders.

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.