Nomura Asset Management Co. Ltd. Grows Holdings in LyondellBasell Industries (NYSE:LYB)

Nomura Asset Management Co. Ltd. lifted its position in LyondellBasell Industries (NYSE:LYB) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 222,584 shares of the specialty chemicals company’s stock after purchasing an additional 16,751 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.07% of LyondellBasell Industries worth $16,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of LYB. Norges Bank bought a new stake in LyondellBasell Industries during the 4th quarter valued at approximately $81,015,000. Blair William & Co. IL raised its position in shares of LyondellBasell Industries by 543.9% during the fourth quarter. Blair William & Co. IL now owns 68,884 shares of the specialty chemicals company’s stock valued at $5,116,000 after buying an additional 58,186 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new position in shares of LyondellBasell Industries in the fourth quarter worth $652,000. AssuredPartners Investment Advisors LLC bought a new position in shares of LyondellBasell Industries during the fourth quarter worth $317,000. Finally, NEOS Investment Management LLC grew its stake in LyondellBasell Industries by 28.5% during the fourth quarter. NEOS Investment Management LLC now owns 11,183 shares of the specialty chemicals company’s stock valued at $831,000 after acquiring an additional 2,483 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 several research reports. UBS Group dropped their price objective on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Morgan Stanley cut their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Piper Sandler decreased their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group decreased their price target on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $88.25.

Insider Activity

In related news, Director Michael Sean Hanley purchased 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the completion of the purchase, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Price Performance

LYB stock opened at $69.81 on Friday. The stock has a market cap of $22.58 billion, a PE ratio of 16.86, a P/E/G ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a 12 month low of $69.74 and a 12 month high of $107.02. The company has a 50-day moving average price of $75.58 and a 200 day moving average price of $81.20. The company has a current ratio of 1.83, a quick ratio of 1.13 and a debt-to-equity ratio of 0.84.

LyondellBasell Industries (NYSE:LYB) last released its 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 firm posted $1.26 EPS. Equities research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 7.68%. LyondellBasell Industries’s payout ratio is 129.47%.

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.