Summit Global Investments Purchases 21,430 Shares of LyondellBasell Industries (NYSE:LYB)

Summit Global Investments lifted its position in shares of LyondellBasell Industries (NYSE:LYB - Free Report) by 397.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,817 shares of the specialty chemicals company's stock after purchasing an additional 21,430 shares during the period. Summit Global Investments' holdings in LyondellBasell Industries were worth $2,550,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mutual Advisors LLC increased its position in LyondellBasell Industries by 0.8% during the 3rd quarter. Mutual Advisors LLC now owns 14,386 shares of the specialty chemicals company's stock worth $1,362,000 after buying an additional 111 shares during the period. Czech National Bank raised its stake in LyondellBasell Industries by 0.3% in the 4th quarter. Czech National Bank now owns 44,879 shares of the specialty chemicals company's stock worth $4,267,000 after purchasing an additional 116 shares in the last quarter. Cambridge Trust Co. boosted its holdings in LyondellBasell Industries by 26.0% in the 3rd quarter. Cambridge Trust Co. now owns 567 shares of the specialty chemicals company's stock valued at $54,000 after purchasing an additional 117 shares during the period. Cowa LLC grew its position in shares of LyondellBasell Industries by 3.7% during the 3rd quarter. Cowa LLC now owns 3,290 shares of the specialty chemicals company's stock worth $312,000 after purchasing an additional 117 shares in the last quarter. Finally, First Trust Direct Indexing L.P. raised its position in shares of LyondellBasell Industries by 2.0% in the third quarter. First Trust Direct Indexing L.P. now owns 6,951 shares of the specialty chemicals company's stock valued at $658,000 after buying an additional 134 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now directly owns 12,276 shares of the company's stock, valued at $1,233,246.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Robin W.T. Buchanan sold 18,111 shares of the business's stock in a transaction on Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now owns 12,276 shares in the company, valued at $1,233,246.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Michael C. Mcmurray sold 16,940 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $100.84, for a total value of $1,708,229.60. Following the sale, the chief financial officer now owns 88,858 shares of the company's stock, valued at $8,960,440.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,853 shares of company stock worth $8,077,267. Insiders own 0.11% of the company's stock.

LyondellBasell Industries Trading Up 0.3 %

LyondellBasell Industries stock traded up $0.34 during trading hours on Friday, hitting $99.12. The stock had a trading volume of 1,506,977 shares, compared to its average volume of 1,925,721. The business's 50 day simple moving average is $101.08 and its 200-day simple moving average is $96.67. LyondellBasell Industries has a one year low of $84.80 and a one year high of $106.69. The stock has a market cap of $32.28 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.44 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion during the quarter, compared to analyst estimates of $9.70 billion. During the same quarter last year, the business earned $2.50 EPS. The firm's quarterly revenue was down 3.1% on a year-over-year basis. On average, equities analysts predict that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 5.04%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries's payout ratio is presently 77.28%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYB. Citigroup increased their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 10th. Wolfe Research started coverage on LyondellBasell Industries in a research note on Friday, March 1st. They issued an "underperform" rating for the company. Barclays increased their price objective on shares of LyondellBasell Industries from $98.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 4th. Mizuho boosted their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a "neutral" rating in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $104.75.

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.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries (NYSE:LYB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.