Old North State Wealth Management LLC Has $2.43 Million Stake in LyondellBasell Industries (NYSE:LYB)

Old North State Wealth Management LLC boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,668 shares of the specialty chemicals company’s stock after buying an additional 4,473 shares during the period. LyondellBasell Industries comprises 1.4% of Old North State Wealth Management LLC’s portfolio, making the stock its 28th largest holding. Old North State Wealth Management LLC’s holdings in LyondellBasell Industries were worth $2,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CVA Family Office LLC lifted its position in LyondellBasell Industries by 155.9% during the 3rd quarter. CVA Family Office LLC now owns 261 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 159 shares in the last quarter. Matrix Trust Co acquired a new stake in LyondellBasell Industries in the third quarter worth $30,000. Ashton Thomas Securities LLC bought a new position in LyondellBasell Industries during the third quarter worth about $31,000. Webster Bank N. A. grew its position in shares of LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares during the period. Finally, Rosenberg Matthew Hamilton increased its position in shares of LyondellBasell Industries by 268.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after acquiring an additional 295 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Insider Transactions at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of the business’s stock in a transaction on 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 purchase, the director now directly owns 18,175 shares in the company, valued at $1,382,390.50. This trade represents a 37.95 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays reduced their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Tuesday. Piper Sandler reiterated a “neutral” rating and issued a $95.00 price objective (down previously from $112.00) on shares of LyondellBasell Industries in a research note on Tuesday, January 7th. Royal Bank of Canada raised their target price on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Morgan Stanley lowered their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average price target of $89.17.

LyondellBasell Industries Trading Up 2.6 %

NYSE:LYB opened at $78.25 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The company has a fifty day moving average of $76.30 and a 200 day moving average of $86.97. The firm has a market capitalization of $25.41 billion, a P/E ratio of 18.90, a P/E/G ratio of 5.11 and a beta of 1.05. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the business posted $1.26 earnings per share. On average, research analysts predict that LyondellBasell Industries will post 7.4 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date was Monday, December 2nd. 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.