Welch & Forbes LLC Lowers Stake in LyondellBasell Industries (NYSE:LYB)

Welch & Forbes LLC lessened its holdings in LyondellBasell Industries (NYSE:LYB) by 7.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,800 shares of the specialty chemicals company’s stock after selling 225 shares during the period. Welch & Forbes LLC’s holdings in LyondellBasell Industries were worth $208,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Straight Path Wealth Management raised its stake in shares of LyondellBasell Industries by 40.0% during the 4th quarter. Straight Path Wealth Management now owns 7,000 shares of the specialty chemicals company’s stock worth $520,000 after buying an additional 2,000 shares during the period. Raymond James Financial Inc. acquired a new position in LyondellBasell Industries during the fourth quarter worth $69,115,000. Arizona State Retirement System raised its position in LyondellBasell Industries by 1.2% during the fourth quarter. Arizona State Retirement System now owns 75,537 shares of the specialty chemicals company’s stock worth $5,610,000 after acquiring an additional 906 shares during the period. Aigen Investment Management LP purchased a new position in LyondellBasell Industries during the fourth quarter valued at $1,234,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of LyondellBasell Industries in the fourth quarter valued at about $3,760,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 2.1 %

Shares of LYB opened at $77.53 on Friday. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02. The firm has a market capitalization of $25.08 billion, a P/E ratio of 18.73, a P/E/G ratio of 0.97 and a beta of 1.06. The firm has a 50-day moving average price of $76.04 and a 200 day moving average price of $83.69. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $1.34 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 6.91%. LyondellBasell Industries’s dividend payout ratio (DPR) is 129.47%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group decreased their price target on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Morgan Stanley decreased their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Barclays lowered their price target on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Mizuho reduced their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Finally, Piper Sandler lowered their target price on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of “Hold” and an average price target of $88.25.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Robin W.T. Buchanan acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was purchased at an average cost of $76.06 per share, with a total value of $380,300.00. Following the transaction, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. This trade represents a 37.95 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

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.