Insider Buying: LyondellBasell Industries (NYSE:LYB) Director Purchases 3,750 Shares of Stock

LyondellBasell Industries (NYSE:LYB) Director Michael Sean Hanley bought 3,750 shares of the stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost 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 trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded up $0.36 during mid-day trading on Thursday, reaching $72.55. 2,509,197 shares of the company’s stock were exchanged, compared to its average volume of 2,072,590. LyondellBasell Industries has a 52 week low of $71.81 and a 52 week high of $107.02. The firm has a 50-day moving average price of $76.05 and a two-hundred day moving average price of $83.20. 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 has a market capitalization of $23.47 billion, a price-to-earnings ratio of 17.52, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share 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 quarter in the prior year, the company earned $1.26 EPS. Analysts predict that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 7.39%. The ex-dividend date of this dividend is Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc raised its stake in LyondellBasell Industries by 207.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company’s stock valued at $167,448,000 after acquiring an additional 1,522,043 shares during the period. Amundi raised its position in shares of LyondellBasell Industries by 48.6% in the fourth quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock valued at $283,452,000 after purchasing an additional 1,260,913 shares during the period. Norges Bank purchased a new stake in shares of LyondellBasell Industries during the 4th quarter valued at approximately $81,015,000. Raymond James Financial Inc. bought a new position in LyondellBasell Industries in the 4th quarter worth approximately $69,115,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in LyondellBasell Industries by 211.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,283,163 shares of the specialty chemicals company’s stock valued at $123,055,000 after buying an additional 871,708 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of recent research reports. Mizuho decreased their price target 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. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Piper Sandler dropped their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley decreased their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, StockNews.com lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.