Wedge Capital Management L L P NC Purchases 21,162 Shares of LyondellBasell Industries (NYSE:LYB)

Wedge Capital Management L L P NC raised its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 37.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,239 shares of the specialty chemicals company’s stock after acquiring an additional 21,162 shares during the period. Wedge Capital Management L L P NC’s holdings in LyondellBasell Industries were worth $7,439,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Valley National Advisers Inc. bought a new stake in shares of LyondellBasell Industries in the 3rd quarter valued at about $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of LyondellBasell Industries in the 3rd quarter worth $26,000. FSC Wealth Advisors LLC purchased a new position in LyondellBasell Industries during the 3rd quarter valued at about $26,000. Venturi Wealth Management LLC grew its holdings in LyondellBasell Industries by 410.2% in the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 242 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of LyondellBasell Industries by 133.9% during the third quarter. Newbridge Financial Services Group Inc. now owns 393 shares of the specialty chemicals company’s stock worth $37,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Insider Activity

In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction on Friday, February 23rd. The stock was 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 of the company’s stock, valued at approximately $9,101,476.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the transaction, the director now owns 12,276 shares in the company, valued at approximately $1,233,246.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kenneth Todd Lane sold 29,229 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, February 23rd. The stock was 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 of the company’s stock, valued at $9,101,476.02. The disclosure for this sale can be found here. Insiders sold a total of 80,853 shares of company stock valued at $8,077,267 over the last 90 days. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Price Performance

LYB opened at $100.55 on Wednesday. The firm has a market cap of $32.72 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 1.24 and a beta of 1.19. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $106.69. The company has a quick ratio of 1.17, a current ratio of 1.84 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $100.61 and its 200 day moving average price is $96.36.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.07). The company had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.85 billion. LyondellBasell Industries had a return on equity of 21.89% and a net margin of 5.16%. The company’s revenue was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. As a group, sell-side analysts expect that LyondellBasell Industries will post 8.63 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

Analyst Ratings Changes

A number of research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating and set a $105.00 price objective on the stock. in a report on Wednesday, January 10th. Citigroup raised their price objective on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Wells Fargo & Company raised their target price on LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. Finally, Barclays increased their price target on LyondellBasell Industries from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries has an average rating of “Hold” and an average price target of $103.82.

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.