SouthState Corp Sells 1,463 Shares of LyondellBasell Industries (NYSE:LYB)

SouthState Corp trimmed its position in LyondellBasell Industries (NYSE:LYB) by 24.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,554 shares of the specialty chemicals company’s stock after selling 1,463 shares during the quarter. SouthState Corp’s holdings in LyondellBasell Industries were worth $338,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Webster Bank N. A. raised 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 worth $26,000 after purchasing an additional 143 shares during the period. Rosenberg Matthew Hamilton increased its stake in LyondellBasell Industries by 268.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in LyondellBasell Industries during the fourth quarter worth $37,000. Pinnacle Bancorp Inc. bought a new position in shares of LyondellBasell Industries in the fourth quarter valued at $59,000. Finally, Brooklyn Investment Group acquired a new position in shares of LyondellBasell Industries during the third quarter valued at about $60,000. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LYB shares. Barclays lowered their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. UBS Group lowered their price objective on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. Wells Fargo & Company cut their target price on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Piper Sandler lowered their price target on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group cut their price objective on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. One 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, the stock currently has an average rating of “Hold” and a consensus price target of $88.25.

Insider Activity

In other news, Director Michael Sean Hanley bought 3,750 shares of the stock in a transaction on Wednesday, March 12th. The shares were acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries Stock Up 1.4 %

LYB opened at $75.20 on Tuesday. The company’s 50-day moving average price is $76.11 and its two-hundred day moving average price is $82.60. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a twelve month low of $71.81 and a twelve month high of $107.02. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last issued 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 previous year, the firm posted $1.26 EPS. As a group, equities analysts expect 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 was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.13%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

LyondellBasell Industries Company Profile

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.