Ameriprise Financial Inc. Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Ameriprise Financial Inc. increased its position in shares of LyondellBasell Industries (NYSE:LYB) by 127.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 671,391 shares of the specialty chemicals company’s stock after purchasing an additional 376,468 shares during the period. Ameriprise Financial Inc.’s holdings in LyondellBasell Industries were worth $49,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AXA S.A. lifted its stake in LyondellBasell Industries by 42.7% during the fourth quarter. AXA S.A. now owns 140,450 shares of the specialty chemicals company’s stock worth $10,431,000 after purchasing an additional 41,998 shares during the last quarter. Gallagher Fiduciary Advisors LLC lifted its position in shares of LyondellBasell Industries by 60.8% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 10,513 shares of the specialty chemicals company’s stock worth $781,000 after buying an additional 3,977 shares during the last quarter. DoubleLine ETF Adviser LP acquired a new position in shares of LyondellBasell Industries in the 4th quarter valued at $2,141,000. Wahed Invest LLC grew its position in shares of LyondellBasell Industries by 6.4% in the 4th quarter. Wahed Invest LLC now owns 6,725 shares of the specialty chemicals company’s stock valued at $499,000 after buying an additional 405 shares during the last quarter. Finally, Gallo Partners LP acquired a new stake in LyondellBasell Industries during the 4th quarter worth $1,516,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYB has been the subject of several research analyst reports. Piper Sandler decreased their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Royal Bank of Canada dropped their price target on LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group reduced their price objective on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. restated a “neutral” rating and set a $60.00 target price (down from $80.00) on shares of LyondellBasell Industries in a research report on Friday, April 4th. Finally, BMO Capital Markets reduced their price target on shares of LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $69.75.

Insider Activity at LyondellBasell Industries

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction on Wednesday, March 12th. The shares were bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now owns 16,028 shares in the company, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $56.98 on Friday. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $102.09. The company has a 50-day moving average price of $63.92 and a 200 day moving average price of $73.44. The company has a market cap of $18.31 billion, a P/E ratio of 13.76, a PEG ratio of 0.97 and a beta of 0.87. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). The business had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.53 earnings per share. Research analysts predict that LyondellBasell Industries will post 6.31 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 17th. Stockholders of record on Monday, March 10th were issued a $1.34 dividend. The ex-dividend date was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.41%. LyondellBasell Industries’s dividend payout ratio is presently 165.43%.

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.