Deutsche Bank AG Buys 401,412 Shares of LyondellBasell Industries (NYSE:LYB)

Deutsche Bank AG boosted its position in LyondellBasell Industries (NYSE:LYB) by 38.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,446,788 shares of the specialty chemicals company’s stock after buying an additional 401,412 shares during the period. Deutsche Bank AG owned approximately 0.45% of LyondellBasell Industries worth $107,453,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in LYB. Webster Bank N. A. increased its holdings in shares of LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton raised its holdings in LyondellBasell Industries by 268.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 295 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of LyondellBasell Industries in the fourth quarter valued at $37,000. Covestor Ltd grew its holdings in shares of LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock valued at $41,000 after buying an additional 284 shares during the last quarter. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of LyondellBasell Industries during the fourth quarter worth about $59,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

Shares of NYSE LYB opened at $56.98 on Friday. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.97 and a beta of 0.87. The stock has a fifty day simple moving average of $63.92 and a two-hundred day simple moving average of $73.44. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 1-year low of $51.11 and a 1-year high of $102.09.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $7.68 billion during the quarter, compared to analysts’ expectations of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the business posted $1.53 EPS. Analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 9.41%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 165.43%.

Insider Buying and Selling

In related news, Director Michael Sean Hanley bought 3,750 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares in the company, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYB. Piper Sandler dropped their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. BMO Capital Markets cut their target price on LyondellBasell Industries from $71.00 to $65.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 30th. Fermium Researc raised LyondellBasell Industries to a “strong-buy” rating in a research report on Friday, April 25th. UBS Group reaffirmed a “sell” rating and set a $51.00 price objective (down from $76.00) on shares of LyondellBasell Industries in a report on Monday, April 7th. Finally, Royal Bank of Canada lowered their target price on shares of LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating for the company in a report on Tuesday, April 29th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $69.75.

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.