Russell Investments Group Ltd. Boosts Holdings in LyondellBasell Industries (NYSE:LYB)

Russell Investments Group Ltd. raised its stake in shares of LyondellBasell Industries (NYSE:LYB) by 25.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 233,350 shares of the specialty chemicals company’s stock after acquiring an additional 46,871 shares during the quarter. Russell Investments Group Ltd.’s holdings in LyondellBasell Industries were worth $22,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Headlands Technologies LLC purchased a new position in LyondellBasell Industries during the fourth quarter valued at $384,000. Citizens Financial Group Inc. RI purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth about $237,000. Syon Capital LLC lifted its stake in shares of LyondellBasell Industries by 8.6% in the fourth quarter. Syon Capital LLC now owns 2,458 shares of the specialty chemicals company’s stock worth $234,000 after buying an additional 194 shares in the last quarter. Meritage Portfolio Management purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth about $3,822,000. Finally, Bailard Inc. purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth about $784,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB opened at $99.52 on Thursday. LyondellBasell Industries has a 1-year low of $84.80 and a 1-year high of $106.69. The stock has a market cap of $32.41 billion, a PE ratio of 15.38, a P/E/G ratio of 1.26 and a beta of 1.18. The firm has a 50-day simple moving average of $101.07 and a two-hundred day simple moving average of $96.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share 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 analysts’ expectations of $9.70 billion. During the same period last year, the business earned $2.50 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. As a group, analysts forecast that LyondellBasell Industries will post 8.49 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

Insider Activity

In other news, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were 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 owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kenneth Todd Lane sold 29,229 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly 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. Over the last quarter, insiders sold 80,853 shares of company stock valued at $8,077,267. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LYB shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday. 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 started coverage on shares of LyondellBasell Industries in a research note on Friday, March 1st. They issued an “underperform” rating on the stock. Mizuho raised their price target on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, BMO Capital Markets raised their price objective on shares of LyondellBasell Industries from $99.00 to $105.00 and gave the stock a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $104.75.

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.