Merrion Investment Management Co LLC Invests $503,000 in LyondellBasell Industries (NYSE:LYB)

Merrion Investment Management Co LLC bought a new position in shares of LyondellBasell Industries (NYSE:LYB) in the fourth quarter, Holdings Channel.com reports. The fund bought 6,775 shares of the specialty chemicals company’s stock, valued at approximately $503,000.

Other large investors have also modified their holdings of the company. HighTower Advisors LLC grew its holdings in shares of LyondellBasell Industries by 18.2% during the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after buying an additional 159,803 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares during the period. Quantinno Capital Management LP grew its holdings in shares of LyondellBasell Industries by 23.1% in the third quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after purchasing an additional 11,610 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of LyondellBasell Industries by 202.4% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after purchasing an additional 8,691 shares during the period. Finally, Sound Income Strategies LLC grew its holdings in shares of LyondellBasell Industries by 8.1% in the fourth quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock valued at $20,174,000 after purchasing an additional 20,310 shares during the period. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LYB shares. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. dropped their price objective on shares of LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Friday, December 6th. Piper Sandler reissued a “neutral” rating and issued a $95.00 price objective (down previously from $112.00) on shares of LyondellBasell Industries in a report on Tuesday, January 7th. Morgan Stanley lowered their target price on shares of LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Mizuho lowered their target price on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.33.

Insider Activity at LyondellBasell Industries

In related news, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $76.06 per share, for a total transaction of $380,300.00. Following the completion of the purchase, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This trade represents a 37.95 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

LyondellBasell Industries Stock Down 0.5 %

Shares of LYB opened at $77.89 on Thursday. The stock has a market capitalization of $25.29 billion, a PE ratio of 11.85, a P/E/G ratio of 5.07 and a beta of 1.06. LyondellBasell Industries has a 1 year low of $72.21 and a 1 year high of $107.02. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.25 and a current ratio of 2.13. The company’s 50-day simple moving average is $76.85 and its 200-day simple moving average is $87.56.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, November 1st. The specialty chemicals company reported $1.88 earnings per share for the quarter, missing the consensus estimate of $1.98 by ($0.10). The firm had revenue of $10.33 billion during the quarter, compared to analyst estimates of $10.60 billion. LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $2.46 EPS. Analysts forecast that LyondellBasell Industries will post 6.48 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, December 9th. Investors of record on Monday, December 2nd were issued a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a yield of 6.88%. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

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.