Mirae Asset Global Investments Co. Ltd. Has $20.49 Million Stake in LyondellBasell Industries (NYSE:LYB)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 8.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,518 shares of the specialty chemicals company's stock after purchasing an additional 17,290 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of LyondellBasell Industries worth $20,491,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in LyondellBasell Industries by 1.1% during the first quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company's stock worth $3,172,226,000 after purchasing an additional 335,124 shares in the last quarter. State Street Corp lifted its position in shares of LyondellBasell Industries by 2.9% in the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company's stock valued at $1,266,977,000 after acquiring an additional 348,169 shares in the last quarter. FMR LLC lifted its position in shares of LyondellBasell Industries by 10.3% in the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company's stock valued at $796,290,000 after acquiring an additional 787,221 shares in the last quarter. Morgan Stanley lifted its position in shares of LyondellBasell Industries by 9.9% in the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company's stock valued at $597,140,000 after acquiring an additional 569,887 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of LyondellBasell Industries by 4.0% in the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company's stock valued at $536,752,000 after acquiring an additional 217,461 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday, March 22nd. Deutsche Bank Aktiengesellschaft downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating and set a $105.00 target price on the stock. in a research report on Wednesday, January 10th. Vertical Research raised LyondellBasell Industries from a "hold" rating to a "buy" rating in a report on Wednesday, January 3rd. Citigroup increased their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Wolfe Research assumed coverage on LyondellBasell Industries in a report on Friday, March 1st. They issued an "underperform" rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $102.67.

LyondellBasell Industries Trading Down 1.2 %

LYB stock traded down $1.23 during midday trading on Wednesday, hitting $103.53. 1,408,219 shares of the company's stock were exchanged, compared to its average volume of 1,986,908. The business has a 50-day simple moving average of $99.54 and a two-hundred day simple moving average of $95.90. The company has a current ratio of 1.84, a quick ratio of 1.17 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $33.60 billion, a PE ratio of 16.00, a P/E/G ratio of 1.26 and a beta of 1.19. LyondellBasell Industries has a 1-year low of $84.80 and a 1-year high of $106.69.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.07). LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The firm had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.85 billion. During the same period in the previous year, the firm posted $1.29 earnings per share. The company's quarterly revenue was down 6.6% compared to the same quarter last year. On average, sell-side analysts predict that LyondellBasell Industries will post 8.81 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were paid a $1.25 dividend. The ex-dividend date was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.83%. LyondellBasell Industries's payout ratio is presently 77.28%.

Insider Activity

In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the sale, the chief accounting officer now directly owns 27,575 shares of the company's stock, valued at $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the transaction, the chief accounting officer now directly owns 27,575 shares in the company, valued at $2,770,460.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $99.19, for a total value of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares of the company's stock, valued at $9,101,476.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,853 shares of company stock valued at $8,077,267. 0.12% of the stock is currently owned by corporate insiders.

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.