Man Group plc Takes $2.98 Million Position in LyondellBasell Industries (NYSE:LYB)

Man Group plc bought a new position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 40,073 shares of the specialty chemicals company's stock, valued at approximately $2,976,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dodge & Cox boosted its position in shares of LyondellBasell Industries by 5.3% during the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock valued at $1,260,052,000 after acquiring an additional 851,365 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in LyondellBasell Industries by 7.0% during 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 purchasing an additional 558,137 shares during the period. Geode Capital Management LLC boosted its holdings in LyondellBasell Industries by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company's stock valued at $512,913,000 after purchasing an additional 199,054 shares in the last quarter. Invesco Ltd. grew its stake in shares of LyondellBasell Industries by 13.5% in the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after purchasing an additional 694,055 shares during the period. Finally, JPMorgan Chase & Co. grew 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 valued at $501,501,000 after purchasing an additional 187,150 shares during the period. 71.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. This trade represents a 30.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company decreased their price target on LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, April 4th. Morgan Stanley reduced their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. UBS Group reiterated a "sell" rating and set a $51.00 target price (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Barclays cut their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $69.75.

LyondellBasell Industries Trading Down 1.0%

LyondellBasell Industries stock traded down $0.56 during mid-day trading on Wednesday, hitting $57.41. The stock had a trading volume of 1,256,383 shares, compared to its average volume of 3,463,975. The stock has a 50-day simple moving average of $59.99 and a two-hundred day simple moving average of $71.07. 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 market capitalization of $18.45 billion, a PE ratio of 13.88, a P/E/G ratio of 0.97 and a beta of 0.87. LyondellBasell Industries has a 12 month low of $51.11 and a 12 month high of $100.46.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the prior year, the firm earned $1.53 EPS. The firm's quarterly revenue was down 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Monday, June 2nd will be given a dividend of $1.37 per share. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.48 annualized dividend and a dividend yield of 9.55%. LyondellBasell Industries's payout ratio is presently 169.14%.

LyondellBasell Industries Company 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.