Rhumbline Advisers Grows Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Rhumbline Advisers lifted its position in LyondellBasell Industries (NYSE:LYB - Free Report) by 7.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500,901 shares of the specialty chemicals company's stock after acquiring an additional 36,303 shares during the period. Rhumbline Advisers owned 0.16% of LyondellBasell Industries worth $35,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox raised its stake in shares of LyondellBasell Industries by 5.3% in the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company's stock worth $1,260,052,000 after purchasing an additional 851,365 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in LyondellBasell Industries by 7.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company's stock worth $637,394,000 after buying an additional 558,137 shares during the period. Geode Capital Management LLC raised its position in LyondellBasell Industries by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company's stock worth $512,913,000 after buying an additional 199,054 shares during the last quarter. Invesco Ltd. lifted its stake in LyondellBasell Industries by 13.5% during the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after acquiring an additional 694,055 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings 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 acquiring an additional 187,150 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB traded up $1.03 during midday trading on Friday, reaching $56.63. 3,663,145 shares of the company's stock traded hands, compared to its average volume of 2,741,274. The company has a market cap of $18.20 billion, a P/E ratio of 13.68, a PEG ratio of 0.97 and a beta of 0.82. The company has a fifty day simple moving average of $57.94 and a two-hundred day simple moving average of $69.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 1 year low of $51.11 and a 1 year high of $100.46.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). The company had revenue of $7.68 billion for the quarter, compared to analysts' expectations of $7.69 billion. LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business's revenue for the quarter was down 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.53 earnings per share. Equities analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 9.68%. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date is Monday, June 2nd. LyondellBasell Industries's payout ratio is presently 169.14%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LYB. BMO Capital Markets reduced their target price on shares of LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating for the company in a report on Wednesday, April 30th. Royal Bank of Canada cut their price target on LyondellBasell Industries from $62.00 to $61.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 29th. Piper Sandler decreased their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Wells Fargo & Company lowered their target price 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. Finally, The Goldman Sachs Group reduced their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $69.75.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley acquired 3,750 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were bought 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 of the company's stock, valued at approximately $1,154,817.40. This trade represents a 30.54% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

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.