Anchor Pointe Wealth Management LLC Purchases New Position in LyondellBasell Industries (NYSE:LYB)

Anchor Pointe Wealth Management LLC purchased a new stake in shares of LyondellBasell Industries (NYSE:LYB) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 2,851 shares of the specialty chemicals company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Dodge & Cox increased its position in shares of LyondellBasell Industries by 5.3% during the fourth quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock valued at $1,260,052,000 after buying an additional 851,365 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of LyondellBasell Industries by 7.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock valued at $637,394,000 after buying an additional 558,137 shares during the period. Geode Capital Management LLC increased its position in shares of LyondellBasell Industries by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock valued at $512,913,000 after buying an additional 199,054 shares during the period. Invesco Ltd. increased its position in shares of LyondellBasell Industries by 13.5% during the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock valued at $432,721,000 after buying an additional 694,055 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in LyondellBasell Industries by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after acquiring an additional 187,150 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analyst Weigh In

LYB has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on shares of LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $60.00 price objective (down previously from $80.00) on shares of LyondellBasell Industries in a research note on Friday, April 4th. Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Morgan Stanley dropped their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, UBS Group reissued a “sell” rating and set a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $69.75.

Insider Activity at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price 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 in the company, valued at approximately $1,154,817.40. This trade represents a 30.54% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

LyondellBasell Industries Trading Up 3.3%

Shares of NYSE LYB opened at $57.98 on Wednesday. The firm’s 50 day moving average price is $59.99 and its 200-day moving average price is $71.07. The company has a market cap of $18.63 billion, a PE ratio of 14.00, a P/E/G ratio of 0.97 and a beta of 0.87. LyondellBasell Industries has a 52-week low of $51.11 and a 52-week high of $100.46. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) 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 the consensus estimate of $7.69 billion. LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company’s quarterly revenue was down 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 EPS. On average, equities research analysts expect that LyondellBasell Industries will post 6.31 EPS 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. The ex-dividend date is Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a yield of 9.45%. LyondellBasell Industries’s dividend payout ratio is 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.