OLD National Bancorp IN Boosts Stock Position in LyondellBasell Industries (NYSE:LYB)

OLD National Bancorp IN boosted its holdings in LyondellBasell Industries (NYSE:LYB) by 2.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,346 shares of the specialty chemicals company’s stock after buying an additional 1,708 shares during the quarter. OLD National Bancorp IN’s holdings in LyondellBasell Industries were worth $5,375,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Vident Advisory LLC increased its holdings in LyondellBasell Industries by 0.8% in the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company’s stock valued at $1,197,000 after buying an additional 131 shares during the last quarter. Lazard Asset Management LLC increased its holdings in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock valued at $34,000 after buying an additional 214 shares during the last quarter. Portside Wealth Group LLC increased its holdings in LyondellBasell Industries by 2.9% in the first quarter. Portside Wealth Group LLC now owns 7,972 shares of the specialty chemicals company’s stock valued at $592,000 after buying an additional 223 shares during the last quarter. Vise Technologies Inc. increased its holdings in LyondellBasell Industries by 6.7% in the fourth quarter. Vise Technologies Inc. now owns 3,701 shares of the specialty chemicals company’s stock valued at $275,000 after buying an additional 234 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in LyondellBasell Industries by 6.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 4,200 shares of the specialty chemicals company’s stock valued at $312,000 after buying an additional 238 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $56.63 on Monday. 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 has a 52-week low of $51.11 and a 52-week high of $100.46. The business’s 50-day moving average price is $57.67 and its 200 day moving average price is $69.49. The firm has a market cap of $18.20 billion, a P/E ratio of 13.68, a P/E/G ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company had revenue of $7.68 billion for the quarter, compared to analysts’ expectations of $7.69 billion. During the same period in the prior year, the business earned $1.53 EPS. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a dividend yield of 9.68%. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 169.14%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LYB. The Goldman Sachs Group dropped their target price on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, April 28th. Fermium Researc raised LyondellBasell Industries to a “strong-buy” rating in a report on Friday, April 25th. BMO Capital Markets dropped their price objective on LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday, April 30th. Piper Sandler dropped their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, April 4th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $69.75.

Insider Buying and Selling

In other news, Director Michael Sean Hanley acquired 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, for a total transaction of $270,187.50. Following the completion of the transaction, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This trade represents a 30.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

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.