Kistler Tiffany Companies LLC acquired a new stake in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 370 shares of the specialty chemicals company’s stock, valued at approximately $31,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of LyondellBasell Industries by 205.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock worth $458,010,000 after buying an additional 2,995,335 shares in the last quarter. Prudential Financial Inc. grew its holdings in LyondellBasell Industries by 171.0% during the 3rd quarter. Prudential Financial Inc. now owns 1,348,644 shares of the specialty chemicals company’s stock worth $101,525,000 after acquiring an additional 851,055 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of LyondellBasell Industries by 163.8% in the 3rd quarter. Alliancebernstein L.P. now owns 1,231,389 shares of the specialty chemicals company’s stock worth $92,699,000 after purchasing an additional 764,671 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of LyondellBasell Industries by 139.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,306,806 shares of the specialty chemicals company’s stock valued at $98,377,000 after purchasing an additional 762,051 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of LyondellBasell Industries by 91.7% during the first quarter. First Trust Advisors LP now owns 1,227,127 shares of the specialty chemicals company’s stock worth $126,173,000 after purchasing an additional 586,864 shares during the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
LYB has been the topic of several research reports. Barclays upped their price objective on LyondellBasell Industries from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday. Mizuho lifted their price objective on shares of LyondellBasell Industries from $89.00 to $91.00 and gave the stock a “neutral” rating in a report on Monday, February 6th. Citigroup increased their target price on shares of LyondellBasell Industries from $80.00 to $92.00 in a report on Thursday, December 15th. Credit Suisse Group raised shares of LyondellBasell Industries from an “underperform” rating to an “outperform” rating and set a $109.00 price target for the company in a report on Monday, February 6th. Finally, Bank of America raised their target price on shares of LyondellBasell Industries from $77.00 to $90.00 and gave the stock an “underperform” rating in a report on Monday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.63.
LyondellBasell Industries Trading Up 1.8 %
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 analysts’ consensus estimates of $1.09 by $0.20. LyondellBasell Industries had a return on equity of 32.96% and a net margin of 7.71%. The firm had revenue of $10.21 billion during the quarter, compared to the consensus estimate of $10.73 billion. During the same period in the prior year, the firm posted $3.63 earnings per share. The firm’s revenue for the quarter was down 20.5% compared to the same quarter last year. As a group, analysts anticipate that LyondellBasell Industries will post 8.93 earnings per share for the current fiscal year.
LyondellBasell Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 13th. Investors of record on Monday, March 6th were issued a dividend of $1.19 per share. This represents a $4.76 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Friday, March 3rd. LyondellBasell Industries’s payout ratio is currently 40.34%.
Insiders Place Their Bets
In other news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $98.99, for a total value of $989,900.00. Following the transaction, the executive vice president now owns 47,600 shares of the company’s stock, valued at approximately $4,711,924. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.
LyondellBasell Industries Profile
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.
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