Cidel Asset Management Inc. Increases Position in LyondellBasell Industries (NYSE:LYB)

Cidel Asset Management Inc. lifted its position in shares of LyondellBasell Industries (NYSE:LYB) by 12.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,419 shares of the specialty chemicals company’s stock after purchasing an additional 492 shares during the period. Cidel Asset Management Inc.’s holdings in LyondellBasell Industries were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LYB. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of LyondellBasell Industries by 9.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 51,464 shares of the specialty chemicals company’s stock valued at $3,822,000 after acquiring an additional 4,322 shares in the last quarter. Leo Wealth LLC lifted its holdings in LyondellBasell Industries by 17.6% in the 4th quarter. Leo Wealth LLC now owns 3,695 shares of the specialty chemicals company’s stock worth $294,000 after purchasing an additional 553 shares in the last quarter. Buck Wealth Strategies LLC boosted its stake in LyondellBasell Industries by 88.6% in the 4th quarter. Buck Wealth Strategies LLC now owns 8,111 shares of the specialty chemicals company’s stock worth $602,000 after purchasing an additional 3,810 shares during the period. State of Alaska Department of Revenue grew its holdings in LyondellBasell Industries by 32.7% during the 4th quarter. State of Alaska Department of Revenue now owns 54,624 shares of the specialty chemicals company’s stock valued at $4,056,000 after buying an additional 13,470 shares in the last quarter. Finally, Centennial Wealth Advisory LLC raised its position in shares of LyondellBasell Industries by 20.6% during the fourth quarter. Centennial Wealth Advisory LLC now owns 5,042 shares of the specialty chemicals company’s stock valued at $374,000 after buying an additional 861 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYB. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, February 3rd. The Goldman Sachs Group reduced their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Piper Sandler reissued a “neutral” rating and set a $95.00 price target (down from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Mizuho reduced their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. Finally, JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $89.17.

Insider Buying and Selling

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $76.06 per share, for a total transaction of $380,300.00. Following the acquisition, the director now directly owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This represents a 37.95 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

LyondellBasell Industries Stock Down 1.5 %

NYSE LYB opened at $76.61 on Friday. 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 $72.21 and a 52 week high of $107.02. The firm has a market capitalization of $24.88 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 0.92 and a beta of 1.05. The company has a fifty day moving average of $75.86 and a two-hundred day moving average of $86.56.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the previous year, the firm earned $1.26 EPS. On average, analysts predict that LyondellBasell Industries will post 6.68 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, December 2nd were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 7.00%. LyondellBasell Industries’s payout ratio is 129.47%.

About LyondellBasell Industries

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.