Crossmark Global Holdings Inc. Has $2.36 Million Stake in LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on Mar 31st, 2023

Crossmark Global Holdings Inc. decreased its holdings in LyondellBasell Industries (NYSE:LYB – Get Rating) by 7.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,425 shares of the specialty chemicals company’s stock after selling 2,129 shares during the period. Crossmark Global Holdings Inc.’s holdings in LyondellBasell Industries were worth $2,360,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Alpha Paradigm Partners LLC acquired a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $26,000. Chilton Capital Management LLC acquired a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $26,000. Trust Co. of Vermont increased its holdings in shares of LyondellBasell Industries by 1,033.3% in the 3rd quarter. Trust Co. of Vermont now owns 340 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 310 shares during the period. CI Investments Inc. increased its holdings in shares of LyondellBasell Industries by 1,006.5% in the 3rd quarter. CI Investments Inc. now owns 343 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 312 shares during the period. Finally, Heritage Wealth Management LLC acquired a new position in shares of LyondellBasell Industries in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 91.12% of the company’s stock.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $98.99, for a total value of $989,900.00. Following the transaction, the executive vice president now directly owns 47,600 shares of the company’s stock, valued at approximately $4,711,924. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

LYB has been the subject of several recent research reports. UBS Group boosted their price target on LyondellBasell Industries from $81.00 to $91.00 and gave the company a “neutral” rating in a research note on Wednesday, January 11th. Credit Suisse Group raised LyondellBasell Industries from an “underperform” rating to an “outperform” rating and set a $109.00 price target for the company in a research note on Monday, February 6th. BMO Capital Markets boosted their price target on LyondellBasell Industries from $99.00 to $102.00 and gave the company a “market perform” rating in a research note on Wednesday, February 8th. Atlantic Securities raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 price target for the company in a research note on Tuesday, January 31st. Finally, Wells Fargo & Company boosted their price target on LyondellBasell Industries from $97.00 to $109.00 and gave the company an “overweight” rating in a research note on Monday, February 6th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $98.95.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB opened at $92.90 on Friday. 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 business’s 50 day moving average is $93.75 and its two-hundred day moving average is $86.33. The company has a market cap of $30.28 billion, a P/E ratio of 7.87, a P/E/G ratio of 1.21 and a beta of 1.21. LyondellBasell Industries has a 12 month low of $71.46 and a 12 month high of $117.22.

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

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, March 6th were given a $1.19 dividend. This represents a $4.76 annualized dividend and a yield of 5.12%. The ex-dividend date was Friday, March 3rd. LyondellBasell Industries’s dividend payout ratio is currently 40.34%.

LyondellBasell Industries 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.