Proficio Capital Partners LLC Invests $3.76 Million in LyondellBasell Industries (NYSE:LYB)

Proficio Capital Partners LLC purchased a new position in LyondellBasell Industries (NYSE:LYB) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 50,627 shares of the specialty chemicals company’s stock, valued at approximately $3,760,000.

A number of other large investors have also recently made changes to their positions in LYB. Jacobs Levy Equity Management Inc. boosted its holdings in shares of LyondellBasell Industries by 211.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock worth $123,055,000 after acquiring an additional 871,708 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of LyondellBasell Industries by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,023,982 shares of the specialty chemicals company’s stock worth $769,500,000 after buying an additional 362,671 shares in the last quarter. Franklin Resources Inc. raised its position in shares of LyondellBasell Industries by 11.4% in the third quarter. Franklin Resources Inc. now owns 2,875,267 shares of the specialty chemicals company’s stock worth $268,664,000 after buying an additional 293,622 shares in the last quarter. Geode Capital Management LLC raised its position in shares of LyondellBasell Industries by 4.4% in the third 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 in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of LyondellBasell Industries by 40.0% in the fourth quarter. Allianz Asset Management GmbH now owns 947,614 shares of the specialty chemicals company’s stock worth $70,379,000 after buying an additional 270,694 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $73.51 on Wednesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a fifty-two week low of $72.21 and a fifty-two week high of $107.02. The firm has a market cap of $23.87 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 0.97 and a beta of 1.05. The business has a 50 day moving average price of $75.90 and a 200-day moving average price of $84.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 quarter in the previous year, the firm posted $1.26 EPS. Equities research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $1.34 per share. The ex-dividend date is Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 7.29%. LyondellBasell Industries’s payout ratio is currently 129.47%.

Insider Buying and Selling at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan purchased 5,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was acquired at an average price of $76.06 per share, with a total value of $380,300.00. Following the transaction, the director now directly owns 18,175 shares of the company’s stock, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LYB has been the topic of a number of recent analyst reports. Piper Sandler lowered their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada increased their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 4th. The Goldman Sachs Group lowered their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research report on Thursday, December 12th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Finally, Mizuho lowered their price target on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.25.

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.