SouthState Corp Has $338,000 Stake in LyondellBasell Industries (NYSE:LYB)

SouthState Corp reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 24.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,554 shares of the specialty chemicals company’s stock after selling 1,463 shares during the period. SouthState Corp’s holdings in LyondellBasell Industries were worth $338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Webster Bank N. A. raised its position in shares of LyondellBasell Industries by 70.4% in the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after buying an additional 143 shares in the last quarter. Cairn Investment Group Inc. increased its stake in LyondellBasell Industries by 0.4% during the 4th quarter. Cairn Investment Group Inc. now owns 42,147 shares of the specialty chemicals company’s stock worth $3,130,000 after acquiring an additional 155 shares during the period. Raymond James Trust N.A. increased its position in shares of LyondellBasell Industries by 1.0% in the third quarter. Raymond James Trust N.A. now owns 17,483 shares of the specialty chemicals company’s stock worth $1,677,000 after purchasing an additional 173 shares during the period. Alliance Wealth Advisors LLC UT lifted its position in LyondellBasell Industries by 5.2% during the fourth quarter. Alliance Wealth Advisors LLC UT now owns 3,608 shares of the specialty chemicals company’s stock worth $268,000 after purchasing an additional 177 shares during the period. Finally, Y.D. More Investments Ltd grew its stake in LyondellBasell Industries by 14.9% during the fourth quarter. Y.D. More Investments Ltd now owns 1,497 shares of the specialty chemicals company’s stock worth $111,000 after buying an additional 194 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LYB has been the subject of a number of recent analyst reports. UBS Group cut their price target 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. Piper Sandler decreased their price target on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. StockNews.com downgraded LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their target price on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus price target of $88.25.

LyondellBasell Industries Stock Up 1.4 %

Shares of LYB opened at $75.20 on Tuesday. The stock’s 50-day moving average price is $76.11 and its two-hundred day moving average price is $82.60. LyondellBasell Industries has a 12 month low of $71.81 and a 12 month high of $107.02. The company has a market capitalization of $24.32 billion, a PE ratio of 18.16, a PEG ratio of 0.97 and a beta of 1.06. 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 posted its quarterly earnings data 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 return on equity of 15.97% and a net margin of 3.39%. During the same period last year, the business earned $1.26 earnings per share. On average, analysts anticipate that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a dividend yield of 7.13%. The ex-dividend date of this dividend was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insider Activity at LyondellBasell Industries

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the acquisition, the director now owns 16,028 shares in the company, valued at $1,154,817.40. This trade represents a 30.54 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.11% of the stock is owned by company insiders.

LyondellBasell Industries 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.