D.A. Davidson & CO. Buys 2,240 Shares of LyondellBasell Industries (NYSE:LYB)

Posted by Defense World Staff on Apr 28th, 2023

D.A. Davidson & CO. raised its stake in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 17.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,305 shares of the specialty chemicals company’s stock after purchasing an additional 2,240 shares during the period. D.A. Davidson & CO.’s holdings in LyondellBasell Industries were worth $1,271,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Mendota Financial Group LLC purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at about $46,000. Illinois Municipal Retirement Fund lifted its position in shares of LyondellBasell Industries by 93.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 10,758 shares of the specialty chemicals company’s stock valued at $893,000 after acquiring an additional 5,201 shares in the last quarter. OLD National Bancorp IN lifted its position in shares of LyondellBasell Industries by 0.5% in the fourth quarter. OLD National Bancorp IN now owns 75,415 shares of the specialty chemicals company’s stock valued at $6,262,000 after acquiring an additional 354 shares in the last quarter. Securian Asset Management Inc. lifted its position in shares of LyondellBasell Industries by 0.6% in the fourth quarter. Securian Asset Management Inc. now owns 20,833 shares of the specialty chemicals company’s stock valued at $1,730,000 after acquiring an additional 117 shares in the last quarter. Finally, Abundance Wealth Counselors lifted its position in shares of LyondellBasell Industries by 2.6% in the fourth quarter. Abundance Wealth Counselors now owns 14,253 shares of the specialty chemicals company’s stock valued at $1,183,000 after acquiring an additional 357 shares in the last quarter. 91.12% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Up 0.8 %

Shares of NYSE LYB opened at $91.32 on Friday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.04 and a current ratio of 1.75. The business’s 50 day moving average price is $92.97 and its 200-day moving average price is $88.69. LyondellBasell Industries has a fifty-two week low of $71.46 and a fifty-two week high of $117.22. The company has a market cap of $29.72 billion, a price-to-earnings ratio of 7.74, a PEG ratio of 1.26 and a beta of 1.21.

LyondellBasell Industries (NYSE:LYB – Get Rating) last issued its quarterly 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 firm had revenue of $10.21 billion for the quarter, compared to the consensus estimate of $10.73 billion. During the same period in the prior year, the business posted $3.63 earnings per share. The company’s revenue for the quarter was down 20.5% on a year-over-year basis. On average, sell-side analysts expect that LyondellBasell Industries will post 9.01 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 13th. Shareholders of record on Monday, March 6th were issued a dividend of $1.19 per share. The ex-dividend date of this dividend was Friday, March 3rd. This represents a $4.76 annualized dividend and a yield of 5.21%. LyondellBasell Industries’s payout ratio is currently 40.34%.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com started coverage on LyondellBasell Industries in a research report on Thursday, March 16th. They issued a “hold” rating on the stock. Atlantic Securities upgraded LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 target price on the stock in a research report on Tuesday, January 31st. Mizuho boosted their target price on LyondellBasell Industries from $89.00 to $91.00 and gave the stock a “neutral” rating in a research report on Monday, February 6th. KeyCorp boosted their target price on LyondellBasell Industries from $74.00 to $84.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 11th. Finally, Barclays boosted their target price on LyondellBasell Industries from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, April 10th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $99.21.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Jeffrey A. Kaplan sold 10,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 47,600 shares in the company, valued at approximately $4,711,924. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

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.