Summit Global Investments Has $792,000 Stock Position in LyondellBasell Industries (NYSE:LYB)

Summit Global Investments reduced its stake in shares of LyondellBasell Industries (NYSE:LYB) by 33.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,668 shares of the specialty chemicals company’s stock after selling 5,297 shares during the quarter. Summit Global Investments’ holdings in LyondellBasell Industries were worth $792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp lifted its position in shares of LyondellBasell Industries by 1.9% during the 3rd quarter. State Street Corp now owns 12,202,118 shares of the specialty chemicals company’s stock worth $1,170,183,000 after buying an additional 230,327 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of LyondellBasell Industries by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after buying an additional 558,137 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of LyondellBasell Industries by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 6,605,151 shares of the specialty chemicals company’s stock worth $638,964,000 after buying an additional 277,108 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock worth $501,501,000 after buying an additional 187,150 shares during the last quarter. Finally, Amundi lifted its position in shares of LyondellBasell Industries by 48.6% during the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after buying an additional 1,260,913 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was acquired at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LYB. The Goldman Sachs Group dropped their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating for the company in a research report on Thursday, December 12th. Royal Bank of Canada increased their target price on LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. Barclays dropped their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. UBS Group dropped their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research report on Monday, February 3rd. Finally, StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.25.

LyondellBasell Industries Price Performance

Shares of LYB opened at $71.57 on Monday. LyondellBasell Industries has a 1 year low of $70.75 and a 1 year high of $107.02. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The business has a 50-day moving average of $76.12 and a 200-day moving average of $81.93.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the firm posted $1.26 EPS. As a group, equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. The ex-dividend date was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 7.49%. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

About LyondellBasell Industries

LyondellBasell Industries N.V. operates as a chemical company in the United States, Germany, Mexico, Italy, Poland, France, Japan, China, the Netherlands, and internationally. The company operates in six segments: Olefins and PolyolefinsAmericas; Olefins and PolyolefinsEurope, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.