Northern Trust Corp Raises Stock Holdings in LyondellBasell Industries (NYSE:LYB)

Northern Trust Corp raised its holdings in LyondellBasell Industries (NYSE:LYB - Free Report) by 10.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,726,246 shares of the specialty chemicals company's stock after purchasing an additional 247,336 shares during the quarter. Northern Trust Corp owned 0.84% of LyondellBasell Industries worth $202,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of LyondellBasell Industries by 3.7% during 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 last quarter. Fifth Third Wealth Advisors LLC increased its holdings in LyondellBasell Industries by 202.4% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company's stock worth $964,000 after purchasing an additional 8,691 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of LyondellBasell Industries by 8.1% during the fourth quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company's stock valued at $20,174,000 after purchasing an additional 20,310 shares in the last quarter. Merrion Investment Management Co LLC bought a new stake in shares of LyondellBasell Industries during the fourth quarter worth about $503,000. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in LyondellBasell Industries by 26.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 18,973 shares of the specialty chemicals company's stock valued at $1,409,000 after purchasing an additional 3,958 shares during the period. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

LYB traded down $0.09 during trading on Tuesday, hitting $56.12. 2,023,026 shares of the company traded hands, compared to its average volume of 2,542,572. LyondellBasell Industries has a one year low of $51.11 and a one year high of $107.02. The stock's fifty day moving average is $65.40 and its 200 day moving average is $74.25. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The firm has a market cap of $18.04 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results 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). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company had revenue of $7.68 billion for the quarter, compared to analysts' expectations of $7.69 billion. During the same quarter in the previous year, the business earned $1.53 EPS. The company's revenue for the quarter was down 7.6% on a year-over-year basis. As a group, equities analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 9.55%. LyondellBasell Industries's dividend payout ratio is presently 165.43%.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now owns 16,028 shares of the company's stock, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. BMO Capital Markets dropped their price target on LyondellBasell Industries from $71.00 to $65.00 and set a "market perform" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company cut 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 Friday, April 4th. The Goldman Sachs Group dropped their price target on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, April 28th. Finally, Morgan Stanley 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 Tuesday, February 4th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, LyondellBasell Industries presently has a consensus rating of "Hold" and a consensus target price of $69.75.

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.