SeaCrest Wealth Management LLC Acquires Shares of 3,219 LyondellBasell Industries (NYSE:LYB)

SeaCrest Wealth Management LLC bought a new stake in LyondellBasell Industries (NYSE:LYB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,219 shares of the specialty chemicals company’s stock, valued at approximately $227,000.

A number of other institutional investors have also modified their holdings of LYB. Stablepoint Partners LLC increased its stake in LyondellBasell Industries by 21.1% in the 1st quarter. Stablepoint Partners LLC now owns 64,111 shares of the specialty chemicals company’s stock valued at $4,513,000 after buying an additional 11,185 shares during the period. Curat Global LLC purchased a new stake in shares of LyondellBasell Industries in the first quarter valued at about $177,000. Generali Investments Management Co LLC acquired a new position in shares of LyondellBasell Industries during the first quarter worth about $80,000. Armstrong Fleming & Moore Inc purchased a new position in LyondellBasell Industries during the first quarter worth about $340,000. Finally, Thrive Wealth Management LLC purchased a new position in LyondellBasell Industries during the first quarter worth about $275,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on LYB shares. Wall Street Zen cut LyondellBasell Industries from a “hold” rating to a “sell” rating in a research report on Monday, April 28th. UBS Group reaffirmed a “sell” rating and set a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. The Goldman Sachs Group cut their price objective on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating for the company in a research report on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. Finally, Argus cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $69.75.

Insider Activity at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now directly owns 16,028 shares of the company’s stock, valued at $1,154,817.40. The trade was a 30.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

LyondellBasell Industries Trading Up 1.9%

NYSE:LYB opened at $56.63 on Monday. LyondellBasell Industries has a 52-week low of $51.11 and a 52-week high of $100.46. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The stock has a fifty day simple moving average of $57.67 and a 200-day simple moving average of $69.49. The company has a market capitalization of $18.20 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The business had revenue of $7.68 billion for the quarter, compared to analyst estimates of $7.69 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The business’s revenue was down 7.6% on a year-over-year basis. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Monday, June 2nd will be given a dividend of $1.37 per share. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. This represents a $5.48 annualized dividend and a dividend yield of 9.68%. The ex-dividend date is Monday, June 2nd. LyondellBasell Industries’s payout ratio is currently 169.14%.

About LyondellBasell Industries

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.