SouthState Corp Trims Holdings in LyondellBasell Industries (NYSE:LYB)

SouthState Corp lowered its position in shares of LyondellBasell Industries (NYSE:LYB) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,716 shares of the specialty chemicals company’s stock after selling 1,013 shares during the quarter. SouthState Corp’s holdings in LyondellBasell Industries were worth $734,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Valley National Advisers Inc. purchased a new stake in LyondellBasell Industries in the 3rd quarter worth $25,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in LyondellBasell Industries in the 3rd quarter worth approximately $26,000. McIlrath & Eck LLC grew its holdings in LyondellBasell Industries by 100.7% during the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 141 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 242 shares during the last quarter. Finally, Webster Bank N. A. raised its position in shares of LyondellBasell Industries by 7,050.0% during the fourth quarter. Webster Bank N. A. now owns 429 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 423 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYB. Mizuho raised their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday. Wolfe Research initiated coverage on LyondellBasell Industries in a report on Friday, March 1st. They issued an “underperform” rating on the stock. JPMorgan Chase & Co. increased their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Royal Bank of Canada increased their target price on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $104.75.

LyondellBasell Industries Trading Up 0.3 %

NYSE LYB traded up $0.34 on Friday, hitting $99.12. 1,506,977 shares of the stock were exchanged, compared to its average volume of 1,925,721. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.32 and a current ratio of 2.12. LyondellBasell Industries has a 52-week low of $84.80 and a 52-week high of $106.69. The firm has a market capitalization of $32.28 billion, a P/E ratio of 15.32, a P/E/G ratio of 1.44 and a beta of 1.18. The stock has a fifty day moving average price of $101.08 and a two-hundred day moving average price of $96.67.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.17. The firm had revenue of $9.93 billion during the quarter, compared to analysts’ expectations of $9.70 billion. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. During the same period in the previous year, the company earned $2.50 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Research analysts forecast that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were paid a dividend of $1.25 per share. The ex-dividend date was Friday, March 1st. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.04%. LyondellBasell Industries’s dividend payout ratio is 77.28%.

Insider Buying and Selling

In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of LyondellBasell Industries stock in a transaction on Thursday, February 29th. The stock was 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 directly owns 27,575 shares in the company, valued at $2,770,460.25. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 transaction of $711,729.48. Following the transaction, the chief accounting officer now directly owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the sale, the director now directly owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The disclosure for this sale can be found here. In the last three months, insiders sold 80,853 shares of company stock valued at $8,077,267. Insiders own 0.11% of the company’s stock.

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.