Palogic Value Management L.P. Has $548,000 Holdings in LyondellBasell Industries (NYSE:LYB)

Palogic Value Management L.P. reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,384 shares of the specialty chemicals company’s stock after selling 1,116 shares during the quarter. Palogic Value Management L.P.’s holdings in LyondellBasell Industries were worth $548,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Anchor Pointe Wealth Management LLC acquired a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $209,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $13,697,000. Jefferies Financial Group Inc. boosted its holdings in shares of LyondellBasell Industries by 30.8% in the 4th quarter. Jefferies Financial Group Inc. now owns 38,823 shares of the specialty chemicals company’s stock worth $2,883,000 after acquiring an additional 9,143 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of LyondellBasell Industries by 12.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 7,301 shares of the specialty chemicals company’s stock worth $542,000 after acquiring an additional 803 shares in the last quarter. Finally, Integrated Advisors Network LLC boosted its holdings in shares of LyondellBasell Industries by 57.3% in the 4th quarter. Integrated Advisors Network LLC now owns 8,033 shares of the specialty chemicals company’s stock worth $597,000 after acquiring an additional 2,926 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $57.98 on Wednesday. The firm has a fifty day moving average of $59.99 and a two-hundred day moving average of $71.07. The stock has a market capitalization of $18.63 billion, a price-to-earnings ratio of 14.00, a PEG 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 released its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The firm had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the prior year, the company earned $1.53 EPS. LyondellBasell Industries’s quarterly revenue was down 7.6% on a year-over-year basis. As a group, equities research analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Increases Dividend

The company 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 $1.37 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a dividend yield of 9.45%. This is a boost from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s dividend payout ratio is currently 169.14%.

Insider Activity at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This represents a 30.54% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYB. Barclays dropped their price objective on shares of LyondellBasell Industries from $72.00 to $62.00 and set an “equal weight” rating for the company in a research report on Thursday, May 1st. Fermium Researc upgraded shares of LyondellBasell Industries to a “strong-buy” rating in a research report on Friday, April 25th. Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Citigroup dropped their price objective on shares of LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, UBS Group restated a “sell” rating and issued a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $69.75.

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.