Redwood Investment Management LLC Purchases New Position in LyondellBasell Industries (NYSE:LYB)

Redwood Investment Management LLC bought a new stake in shares of LyondellBasell Industries (NYSE:LYB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 23,030 shares of the specialty chemicals company's stock, valued at approximately $1,710,000.

A number of other hedge funds have also bought and sold shares of LYB. Webster Bank N. A. lifted its position in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company's stock valued at $26,000 after purchasing an additional 143 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of LyondellBasell Industries by 268.2% in the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company's stock worth $30,000 after acquiring an additional 295 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in LyondellBasell Industries during the fourth quarter valued at $37,000. Lazard Asset Management LLC lifted its holdings in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 214 shares during the period. Finally, Covestor Ltd grew its stake in shares of LyondellBasell Industries by 107.6% during the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 71.20% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LYB shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Morgan Stanley cut their price objective 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. Barclays lowered their target price on LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. StockNews.com cut LyondellBasell Industries from a "hold" rating to a "sell" rating in a research report on Monday, April 28th. Finally, The Goldman Sachs Group decreased their price objective 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $69.75.

LyondellBasell Industries Stock Down 1.2%

Shares of LYB opened at $58.44 on Friday. The business's 50 day moving average is $62.57 and its 200 day moving average is $72.76. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 12-month low of $51.11 and a 12-month high of $101.01. The company has a market capitalization of $18.78 billion, a PE ratio of 14.12, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87.

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

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 9.17%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries's payout ratio is currently 165.43%.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Michael Sean Hanley bought 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, with a total value of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares of the company's stock, valued at $1,154,817.40. This trade represents a 30.54% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company's stock.

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.

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.