Mariner Investment Group LLC Acquires New Position in LyondellBasell Industries (NYSE:LYB)

Mariner Investment Group LLC bought a new position in shares of LyondellBasell Industries (NYSE:LYB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,500 shares of the specialty chemicals company’s stock, valued at approximately $854,000. LyondellBasell Industries makes up 0.2% of Mariner Investment Group LLC’s holdings, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board boosted its holdings in LyondellBasell Industries by 80.4% in the second quarter. Public Sector Pension Investment Board now owns 9,479 shares of the specialty chemicals company’s stock valued at $907,000 after purchasing an additional 4,225 shares during the period. APG Asset Management N.V. raised its position in LyondellBasell Industries by 88.9% in the 2nd quarter. APG Asset Management N.V. now owns 128,586 shares of the specialty chemicals company’s stock valued at $11,477,000 after purchasing an additional 60,501 shares in the last quarter. MBB Public Markets I LLC purchased a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $1,814,000. Lighthouse Investment Partners LLC acquired a new position in shares of LyondellBasell Industries during the second quarter worth about $1,997,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of LyondellBasell Industries during the second quarter worth approximately $1,254,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan acquired 5,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were purchased at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the transaction, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of recent research reports. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler reaffirmed a “neutral” rating and set a $95.00 price objective (down from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. Mizuho lowered their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Barclays cut their price target on LyondellBasell Industries from $99.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company lowered their price objective on LyondellBasell Industries from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $94.33.

LyondellBasell Industries Price Performance

LYB stock opened at $77.45 on Monday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $25.15 billion, a P/E ratio of 11.79, a PEG ratio of 5.07 and a beta of 1.06. The business has a 50 day simple moving average of $77.02 and a 200-day simple moving average of $87.79. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.98 by ($0.10). The business had revenue of $10.33 billion for the quarter, compared to analysts’ expectations of $10.60 billion. LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 earnings per share. As a group, equities analysts anticipate that LyondellBasell Industries will post 6.48 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.92%. The ex-dividend date was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 81.58%.

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.