AlphaCrest Capital Management LLC Sells 12,187 Shares of LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on Mar 9th, 2023

AlphaCrest Capital Management LLC decreased its position in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 60.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,141 shares of the specialty chemicals company’s stock after selling 12,187 shares during the period. AlphaCrest Capital Management LLC’s holdings in LyondellBasell Industries were worth $613,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LYB. Blair William & Co. IL raised its stake in LyondellBasell Industries by 1.0% during the 1st quarter. Blair William & Co. IL now owns 10,812 shares of the specialty chemicals company’s stock worth $1,112,000 after acquiring an additional 107 shares during the period. Sei Investments Co. raised its position in shares of LyondellBasell Industries by 26.2% during the first quarter. Sei Investments Co. now owns 41,362 shares of the specialty chemicals company’s stock valued at $4,349,000 after buying an additional 8,596 shares during the last quarter. Prudential PLC bought a new stake in shares of LyondellBasell Industries during the first quarter valued at approximately $731,000. Cetera Investment Advisers raised its position in shares of LyondellBasell Industries by 29.0% during the first quarter. Cetera Investment Advisers now owns 7,488 shares of the specialty chemicals company’s stock valued at $770,000 after buying an additional 1,684 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of LyondellBasell Industries by 20.2% during the first quarter. Moors & Cabot Inc. now owns 6,268 shares of the specialty chemicals company’s stock valued at $644,000 after buying an additional 1,053 shares during the last quarter. Institutional investors own 91.12% of the company’s stock.

LyondellBasell Industries Stock Up 0.8 %

NYSE LYB opened at $93.82 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.75 and a debt-to-equity ratio of 0.83. The company has a fifty day moving average of $94.16 and a two-hundred day moving average of $85.98. The firm has a market capitalization of $30.58 billion, a price-to-earnings ratio of 7.95, a PEG ratio of 1.29 and a beta of 1.21. LyondellBasell Industries has a 52 week low of $71.46 and a 52 week high of $117.22.

LyondellBasell Industries (NYSE:LYB – Get Rating) last released its earnings results on Friday, February 3rd. The specialty chemicals company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.20. LyondellBasell Industries had a return on equity of 32.96% and a net margin of 7.71%. The business had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.73 billion. During the same period last year, the company earned $3.63 earnings per share. The business’s revenue for the quarter was down 20.5% compared to the same quarter last year. On average, analysts predict that LyondellBasell Industries will post 9.01 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 13th. Stockholders of record on Monday, March 6th will be given a dividend of $1.19 per share. The ex-dividend date is Friday, March 3rd. This represents a $4.76 annualized dividend and a dividend yield of 5.07%. LyondellBasell Industries’s dividend payout ratio (DPR) is 40.34%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LYB shares. KeyCorp lifted their price objective on shares of LyondellBasell Industries from $83.00 to $85.00 and gave the company an “underweight” rating in a research report on Monday, February 6th. Royal Bank of Canada raised shares of LyondellBasell Industries from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $99.00 to $130.00 in a report on Friday, February 24th. Atlantic Securities raised shares of LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 target price for the company in a report on Tuesday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of LyondellBasell Industries from $85.00 to $100.00 and gave the company a “hold” rating in a report on Monday, February 6th. Finally, Piper Sandler raised their target price on shares of LyondellBasell Industries from $95.00 to $104.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $99.11.

Insider Transactions at LyondellBasell Industries

In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $98.99, for a total transaction of $989,900.00. Following the completion of the sale, the executive vice president now directly owns 47,600 shares in the company, valued at $4,711,924. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

LyondellBasell Industries Company Profile

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.