Team Hewins LLC Makes New Investment in LyondellBasell Industries (NYSE:LYB)

26 May 2024, 14:46 by Mitch Edgeman · The Markets Daily

Team Hewins LLC acquired a new stake in LyondellBasell Industries (NYSE:LYB – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,918 shares of the specialty chemicals company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Valley National Advisers Inc. acquired a new position in LyondellBasell Industries in the third quarter valued at approximately $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of LyondellBasell Industries in the 3rd quarter valued at $26,000. McIlrath & Eck LLC boosted its holdings in shares of LyondellBasell Industries by 100.7% in the 4th quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after buying an additional 141 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of LyondellBasell Industries by 410.2% in the 4th quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 242 shares during the last quarter. Finally, Webster Bank N. A. raised its stake in LyondellBasell Industries by 7,050.0% during the 4th quarter. Webster Bank N. A. now owns 429 shares of the specialty chemicals company’s stock worth $41,000 after acquiring an additional 423 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insiders Place Their Bets

In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 9,489 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $98.92, for a total transaction of $938,651.88. Following the sale, the executive vice president now directly owns 89,445 shares in the company, valued at approximately $8,847,899.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kenneth Todd Lane sold 9,489 shares of LyondellBasell Industries stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $98.92, for a total transaction of $938,651.88. Following the completion of the sale, the executive vice president now directly owns 89,445 shares in the company, valued at approximately $8,847,899.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now directly owns 27,575 shares in the company, valued at approximately $2,770,460.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,624 shares of company stock worth $5,178,042. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LYB shares. Wolfe Research began coverage on LyondellBasell Industries in a report on Friday, March 1st. They set an “underperform” rating on the stock. Citigroup raised their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. boosted their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Wells Fargo & Company raised their target price on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Mizuho lifted their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and an average price target of $105.08.

Read Our Latest Stock Analysis on LYB

LyondellBasell Industries Stock Performance

Shares of LYB stock traded up $1.12 during mid-day trading on Friday, hitting $98.54. The stock had a trading volume of 1,370,553 shares, compared to its average volume of 1,694,810. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $107.02. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32. The company’s 50-day simple moving average is $101.17 and its 200-day simple moving average is $97.68. The firm has a market cap of $32.09 billion, a PE ratio of 15.23, a PEG ratio of 1.22 and a beta of 1.18.

LyondellBasell Industries (NYSE:LYB – Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The company had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. Sell-side analysts anticipate that LyondellBasell Industries will post 8.5 earnings per share for the current year.

LyondellBasell Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, June 3rd will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date is Monday, June 3rd. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.25. LyondellBasell Industries’s dividend payout ratio is currently 77.28%.

LyondellBasell Industries Company Profile

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