Intact Investment Management Inc. Purchases 59,250 Shares of LyondellBasell Industries (NYSE:LYB)

Intact Investment Management Inc. lifted its position in LyondellBasell Industries (NYSE:LYB) by 92.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,300 shares of the specialty chemicals company’s stock after acquiring an additional 59,250 shares during the period. Intact Investment Management Inc.’s holdings in LyondellBasell Industries were worth $9,157,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. LBP AM SA raised its position in shares of LyondellBasell Industries by 34.8% in the 4th quarter. LBP AM SA now owns 249,331 shares of the specialty chemicals company’s stock worth $18,518,000 after acquiring an additional 64,381 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of LyondellBasell Industries by 37.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 145,579 shares of the specialty chemicals company’s stock worth $10,812,000 after acquiring an additional 39,712 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of LyondellBasell Industries by 7.8% in the 4th quarter. Moors & Cabot Inc. now owns 3,563 shares of the specialty chemicals company’s stock worth $265,000 after acquiring an additional 259 shares in the last quarter. AGF Management Ltd. bought a new position in shares of LyondellBasell Industries in the 4th quarter worth approximately $2,308,000. Finally, Wealthfront Advisers LLC raised its position in shares of LyondellBasell Industries by 42.0% in the 4th quarter. Wealthfront Advisers LLC now owns 68,064 shares of the specialty chemicals company’s stock worth $5,055,000 after acquiring an additional 20,138 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Mizuho reduced their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Piper Sandler reduced their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company reduced their price objective on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Barclays reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.25.

Insider Transactions at LyondellBasell Industries

In other news, Director Michael Sean Hanley purchased 3,750 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the purchase, the director now directly owns 16,028 shares in the company, valued at approximately $1,154,817.40. This represents a 30.54 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Up 0.5 %

LyondellBasell Industries stock opened at $72.55 on Friday. The firm has a market cap of $23.47 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 0.97 and a beta of 1.06. The stock has a fifty day simple moving average of $76.05 and a two-hundred day simple moving average of $83.13. LyondellBasell Industries has a 12 month low of $71.81 and a 12 month high of $107.02. 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 earnings results 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 in the prior year, the business posted $1.26 earnings per share. Equities analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $1.34 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.39%. 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.