LyondellBasell Industries (NYSE:LYB) Hits New 1-Year Low – Here’s Why

LyondellBasell Industries (NYSE:LYB)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $69.74 and last traded at $69.81, with a volume of 2585518 shares traded. The stock had previously closed at $70.95.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lowered their price target on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada raised their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, February 4th. Barclays cut their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. StockNews.com downgraded shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. Finally, Piper Sandler cut their price objective on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $88.25.

LyondellBasell Industries Trading Down 1.6 %

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 firm’s 50 day moving average price is $75.58 and its 200 day moving average price is $81.20. The stock has a market capitalization of $22.58 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.97 and a beta of 1.06.

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

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 7.68%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 129.47%.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley purchased 3,750 shares of LyondellBasell Industries stock in a transaction that occurred on Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the transaction, the director now directly owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Several large investors have recently bought and sold shares of LYB. Webster Bank N. A. boosted its position in shares of LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Rosenberg Matthew Hamilton grew its position in shares of LyondellBasell Industries by 268.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock worth $30,000 after buying an additional 295 shares during the period. Lazard Asset Management LLC increased its stake in shares of LyondellBasell Industries by 84.9% in the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company’s stock worth $34,000 after acquiring an additional 214 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in LyondellBasell Industries during the fourth quarter worth about $37,000. Finally, Covestor Ltd grew its holdings in LyondellBasell Industries by 107.6% in the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 284 shares during the period. 71.20% of the stock is owned by institutional investors.

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.