Synovus Financial Corp Acquires Shares of 27,826 LyondellBasell Industries (NYSE:LYB)

Synovus Financial Corp bought a new stake in LyondellBasell Industries (NYSE:LYB) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 27,826 shares of the specialty chemicals company’s stock, valued at approximately $2,067,000.

Several other large investors have also made changes to their positions in the company. Webster Bank N. A. increased its stake in shares of LyondellBasell Industries by 70.4% in the 4th quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after purchasing an additional 143 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in shares of LyondellBasell Industries by 268.2% in 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 bought a new position in LyondellBasell Industries in the 4th quarter valued at approximately $37,000. Covestor Ltd increased its holdings in shares of LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after buying an additional 284 shares in the last quarter. Finally, Pinnacle Bancorp Inc. bought a new stake in LyondellBasell Industries during the 4th quarter worth $59,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insider Activity at LyondellBasell Industries

In other news, Director Michael Sean Hanley acquired 3,750 shares of LyondellBasell Industries stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now owns 16,028 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LYB shares. Morgan Stanley lowered their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Friday, April 4th. Barclays cut their price objective on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 1st. Piper Sandler reduced their price objective on shares of LyondellBasell Industries from $84.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Finally, UBS Group reaffirmed a “sell” rating and set a $51.00 price target (down previously from $76.00) on shares of LyondellBasell Industries in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $76.50.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $56.70 on Wednesday. The stock’s 50 day moving average is $70.73 and its 200-day moving average is $77.92. LyondellBasell Industries has a twelve month low of $51.11 and a twelve month high of $107.02. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $18.34 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.97 and a beta of 0.89.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.53). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. During the same quarter in the prior year, the company earned $1.26 EPS. Sell-side analysts forecast that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 annualized dividend and a yield of 9.45%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 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.