Ignite Planners LLC Purchases 799 Shares of LyondellBasell Industries (NYSE:LYB)

Ignite Planners LLC grew its position in LyondellBasell Industries (NYSE:LYB) by 8.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,761 shares of the specialty chemicals company’s stock after purchasing an additional 799 shares during the quarter. Ignite Planners LLC’s holdings in LyondellBasell Industries were worth $710,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC lifted its position in LyondellBasell Industries by 155.9% in the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock valued at $25,000 after acquiring an additional 159 shares in the last quarter. Matrix Trust Co bought a new position in LyondellBasell Industries in the third quarter worth approximately $30,000. Rosenberg Matthew Hamilton boosted its stake in shares of LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 295 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of LyondellBasell Industries during the 3rd quarter worth $31,000. Finally, Fortitude Family Office LLC increased its position in LyondellBasell Industries by 162.0% in the third quarter. Fortitude Family Office LLC now owns 469 shares of the specialty chemicals company’s stock worth $45,000 after buying an additional 290 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Insider Activity at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction dated Friday, December 13th. The stock was acquired at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the purchase, the director now owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LYB has been the subject of several analyst reports. Morgan Stanley reduced their target price on shares of LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and issued a $95.00 price target (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Barclays lowered their price objective on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $94.33.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $75.09 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The stock’s fifty day moving average is $78.41 and its 200 day moving average is $88.89. The firm has a market capitalization of $24.39 billion, a PE ratio of 11.43, a PEG ratio of 2.13 and a beta of 1.06. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. LyondellBasell Industries’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. On average, sell-side analysts anticipate that LyondellBasell Industries will post 7.02 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 7.14%. LyondellBasell Industries’s payout ratio is currently 81.58%.

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.