Summit Financial LLC Takes Position in LyondellBasell Industries (NYSE:LYB)

Summit Financial LLC acquired a new position in shares of LyondellBasell Industries (NYSE:LYB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,628 shares of the specialty chemicals company’s stock, valued at approximately $938,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of LyondellBasell Industries by 1.9% in the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock valued at $1,170,183,000 after buying an additional 230,327 shares during the period. Charles Schwab Investment Management Inc. grew its position in LyondellBasell Industries by 7.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after acquiring an additional 558,137 shares during the period. Geode Capital Management LLC increased its stake in LyondellBasell Industries by 4.4% during the third quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after acquiring an additional 277,108 shares during the last quarter. JPMorgan Chase & Co. raised its position in LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares during the period. Finally, Amundi raised its position in LyondellBasell Industries by 48.6% in the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after purchasing an additional 1,260,913 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 0.9 %

NYSE:LYB opened at $70.68 on Thursday. LyondellBasell Industries has a 12-month low of $69.12 and a 12-month high of $107.02. The firm has a market cap of $22.86 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $75.16 and a 200 day moving average price of $80.71.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data 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 period last year, the company earned $1.26 EPS. Sell-side analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.58%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Analysts Set New Price Targets

A number of analysts recently issued reports on LYB shares. JPMorgan Chase & Co. cut their price objective 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. Mizuho reduced their price target on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. UBS Group decreased their price objective on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a report on Monday, February 3rd. The Goldman Sachs Group cut their target price on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. Finally, StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $87.58.

Insider Buying and Selling at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. The trade was a 30.54 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.

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.