Merit Financial Group LLC Takes Position in LyondellBasell Industries (NYSE:LYB)

Merit Financial Group LLC acquired a new position in shares of LyondellBasell Industries (NYSE:LYB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,187 shares of the specialty chemicals company’s stock, valued at approximately $534,000.

A number of other large investors also recently added to or reduced their stakes in LYB. ProShare Advisors LLC boosted its stake in LyondellBasell Industries by 19.7% in the second quarter. ProShare Advisors LLC now owns 51,177 shares of the specialty chemicals company’s stock valued at $4,896,000 after acquiring an additional 8,409 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of LyondellBasell Industries by 3.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 21,191 shares of the specialty chemicals company’s stock worth $2,027,000 after purchasing an additional 614 shares during the last quarter. Public Sector Pension Investment Board grew its stake in shares of LyondellBasell Industries by 80.4% during the second quarter. Public Sector Pension Investment Board now owns 9,479 shares of the specialty chemicals company’s stock worth $907,000 after purchasing an additional 4,225 shares during the period. Evergreen Capital Management LLC increased its holdings in LyondellBasell Industries by 5.2% in the second quarter. Evergreen Capital Management LLC now owns 5,345 shares of the specialty chemicals company’s stock valued at $511,000 after purchasing an additional 264 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in LyondellBasell Industries by 4.6% in the second quarter. Bank of Montreal Can now owns 512,040 shares of the specialty chemicals company’s stock valued at $49,105,000 after buying an additional 22,577 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

NYSE LYB opened at $77.35 on Friday. The firm’s 50 day moving average is $77.23 and its 200-day moving average is $88.05. The company has a quick ratio of 1.25, a current ratio of 2.13 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $25.12 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 5.12 and a beta of 1.06. LyondellBasell Industries has a 12-month low of $72.21 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.10). LyondellBasell Industries had a return on equity of 17.05% and a net margin of 5.29%. The business had revenue of $10.33 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Equities research analysts anticipate that LyondellBasell Industries will post 6.48 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, December 2nd were paid a $1.34 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $5.36 annualized dividend and a dividend yield of 6.93%. LyondellBasell Industries’s dividend payout ratio is presently 81.58%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Robin W.T. Buchanan acquired 5,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was bought at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now directly owns 18,175 shares in the company, valued at approximately $1,382,390.50. This represents a 37.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on LYB. Deutsche Bank Aktiengesellschaft cut their price target on shares of LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com cut shares of LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. Piper Sandler restated a “neutral” rating and issued a $95.00 price objective (down previously from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Friday, December 6th. Finally, Morgan Stanley lowered their price target on LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.33.

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.