Concord Wealth Partners Takes $67,000 Position in LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on Apr 13th, 2023

Concord Wealth Partners acquired a new stake in LyondellBasell Industries (NYSE:LYB – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 804 shares of the specialty chemicals company’s stock, valued at approximately $67,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont raised its holdings in shares of LyondellBasell Industries by 1,033.3% in the third quarter. Trust Co. of Vermont now owns 340 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 310 shares during the period. CI Investments Inc. raised its holdings in shares of LyondellBasell Industries by 1,006.5% in the third quarter. CI Investments Inc. now owns 343 shares of the specialty chemicals company’s stock worth $26,000 after buying an additional 312 shares during the period. Kistler Tiffany Companies LLC purchased a new stake in shares of LyondellBasell Industries in the fourth quarter worth approximately $31,000. Ten Capital Wealth Advisors LLC purchased a new stake in shares of LyondellBasell Industries in the third quarter worth approximately $32,000. Finally, Covestor Ltd raised its holdings in shares of LyondellBasell Industries by 33.9% in the first quarter. Covestor Ltd now owns 446 shares of the specialty chemicals company’s stock worth $46,000 after buying an additional 113 shares during the period. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of LyondellBasell Industries stock in a transaction dated 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 owns 47,600 shares of the company’s stock, valued at approximately $4,711,924. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

LyondellBasell Industries Stock Up 1.8 %

LyondellBasell Industries stock opened at $97.21 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.75 and a quick ratio of 1.04. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of 8.24, a PEG ratio of 1.33 and a beta of 1.21. LyondellBasell Industries has a 1-year low of $71.46 and a 1-year high of $117.22. The business has a fifty day moving average price of $93.82 and a 200-day moving average price of $87.44.

LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings data 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. The firm had revenue of $10.21 billion during the quarter, compared to analysts’ expectations of $10.73 billion. LyondellBasell Industries had a return on equity of 32.96% and a net margin of 7.71%. The business’s quarterly revenue was down 20.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.63 EPS. Equities research analysts forecast that LyondellBasell Industries will post 8.93 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Stockholders of record on Monday, March 6th were given a $1.19 dividend. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $4.76 dividend on an annualized basis and a dividend yield of 4.90%. LyondellBasell Industries’s payout ratio is 40.34%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on LyondellBasell Industries from $77.00 to $90.00 and gave the stock an “underperform” rating in a report on Monday, February 6th. Citigroup raised their price objective on LyondellBasell Industries from $80.00 to $92.00 in a report on Thursday, December 15th. UBS Group raised their price objective on LyondellBasell Industries from $81.00 to $91.00 and gave the stock a “neutral” rating in a report on Wednesday, January 11th. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of LyondellBasell Industries in a report on Wednesday, March 15th. Finally, Piper Sandler upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $118.00 price objective on the stock in a report on Tuesday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $100.63.

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.