Huntington National Bank Purchases 507 Shares of LyondellBasell Industries (NYSE:LYB)

Huntington National Bank boosted its position in LyondellBasell Industries (NYSE:LYB) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,444 shares of the specialty chemicals company’s stock after purchasing an additional 507 shares during the quarter. Huntington National Bank’s holdings in LyondellBasell Industries were worth $182,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LYB. JPMorgan Chase & Co. increased its stake in shares of LyondellBasell Industries by 3.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after acquiring an additional 187,150 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of LyondellBasell Industries by 23.1% during the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after purchasing an additional 11,610 shares in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 202.4% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after purchasing an additional 8,691 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of LyondellBasell Industries by 8.1% in the 4th quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock worth $20,174,000 after purchasing an additional 20,310 shares in the last quarter. Finally, Merrion Investment Management Co LLC purchased a new stake in shares of LyondellBasell Industries in the 4th quarter worth approximately $503,000. Institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LYB. Royal Bank of Canada boosted their target price on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, February 4th. UBS Group dropped 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. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler dropped 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. Finally, Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $82.33.

Insider Activity

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the transaction, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $57.98 on Friday. LyondellBasell Industries has a one year low of $57.57 and a one year high of $107.02. The business has a fifty day moving average of $74.48 and a 200 day moving average of $80.23. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The firm has a market capitalization of $18.75 billion, a P/E ratio of 14.00, a PEG ratio of 0.97 and a beta of 0.89.

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 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 business posted $1.26 EPS. As a group, sell-side analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 9.24%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is presently 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.