Palogic Value Management L.P. Sells 1,116 Shares of LyondellBasell Industries (NYSE:LYB)

Palogic Value Management L.P. cut its stake in LyondellBasell Industries (NYSE:LYB) by 13.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,384 shares of the specialty chemicals company’s stock after selling 1,116 shares during the period. Palogic Value Management L.P.’s holdings in LyondellBasell Industries were worth $548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Lingohr Asset Management GmbH bought a new position in LyondellBasell Industries during the fourth quarter valued at about $542,000. Arvest Investments Inc. raised its stake in shares of LyondellBasell Industries by 36.7% in the fourth quarter. Arvest Investments Inc. now owns 20,791 shares of the specialty chemicals company’s stock valued at $1,544,000 after purchasing an additional 5,586 shares in the last quarter. Xponance Inc. lifted its position in LyondellBasell Industries by 13.8% in the fourth quarter. Xponance Inc. now owns 41,107 shares of the specialty chemicals company’s stock worth $3,053,000 after purchasing an additional 5,000 shares during the period. Generali Asset Management SPA SGR acquired a new stake in LyondellBasell Industries during the fourth quarter worth $792,000. Finally, Retirement Planning Co of New England Inc. increased its holdings in LyondellBasell Industries by 141.7% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 6,054 shares of the specialty chemicals company’s stock valued at $450,000 after buying an additional 3,549 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $72.65 on Friday. The stock has a 50-day simple moving average of $76.14 and a 200 day simple moving average of $82.30. The stock has a market capitalization of $23.50 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 0.97 and a beta of 1.06. The company has a quick ratio of 1.13, a current ratio of 1.83 and a debt-to-equity ratio of 0.84. LyondellBasell Industries has a 12-month low of $71.81 and a 12-month high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share 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 quarter in the prior year, the company earned $1.26 earnings per share. On average, research analysts anticipate that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $1.34 per share. The ex-dividend date was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a yield of 7.38%. LyondellBasell Industries’s payout ratio is presently 129.47%.

Insider Activity

In related news, Director Michael Sean Hanley purchased 3,750 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were bought at an average price of $72.05 per share, with a total value of $270,187.50. Following the purchase, the director now directly 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 filing with the SEC, which is available at this link. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LYB shares. Piper Sandler reduced their price objective on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group decreased their price objective on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Royal Bank of Canada upped their price objective on LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Tuesday, February 4th. Morgan Stanley dropped 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.25.

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.