Sumitomo Life Insurance Co. Has $803,000 Stock Position in LyondellBasell Industries (NYSE:LYB)

Sumitomo Life Insurance Co. cut its stake in shares of LyondellBasell Industries (NYSE:LYB) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,443 shares of the specialty chemicals company’s stock after selling 449 shares during the period. Sumitomo Life Insurance Co.’s holdings in LyondellBasell Industries were worth $803,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Louisiana State Employees Retirement System acquired a new stake in shares of LyondellBasell Industries in the fourth quarter valued at approximately $1,474,000. Perigon Wealth Management LLC increased its stake in LyondellBasell Industries by 3.4% in the fourth quarter. Perigon Wealth Management LLC now owns 33,319 shares of the specialty chemicals company’s stock valued at $3,168,000 after acquiring an additional 1,109 shares during the last quarter. Benedict Financial Advisors Inc. increased its stake in LyondellBasell Industries by 1.0% in the fourth quarter. Benedict Financial Advisors Inc. now owns 39,024 shares of the specialty chemicals company’s stock valued at $3,710,000 after acquiring an additional 395 shares during the last quarter. Cerity Partners LLC increased its stake in LyondellBasell Industries by 390.4% in the fourth quarter. Cerity Partners LLC now owns 77,917 shares of the specialty chemicals company’s stock valued at $7,409,000 after acquiring an additional 62,030 shares during the last quarter. Finally, Custom Index Systems LLC bought a new position in LyondellBasell Industries in the fourth quarter valued at approximately $388,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LYB has been the topic of a number of recent analyst reports. Barclays lifted their price objective on shares of LyondellBasell Industries from $98.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Vertical Research raised shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. Wolfe Research began coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They set an “underperform” rating on the stock. Wells Fargo & Company boosted their target price on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Citigroup boosted their target price on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $103.82.

LyondellBasell Industries Stock Down 1.1 %

LyondellBasell Industries stock opened at $100.46 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. LyondellBasell Industries has a 52-week low of $84.80 and a 52-week high of $106.69. The firm has a 50 day moving average price of $100.02 and a two-hundred day moving average price of $96.05. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.25 and a beta of 1.19.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.07). The firm had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.85 billion. LyondellBasell Industries had a return on equity of 21.89% and a net margin of 5.16%. The firm’s revenue for the quarter was down 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.29 EPS. Equities analysts predict that LyondellBasell Industries will post 8.63 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business 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 of this dividend was Friday, March 1st. This represents a $5.00 annualized dividend and a dividend yield of 4.98%. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Insider Activity

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