Meritage Portfolio Management Invests $3.82 Million in LyondellBasell Industries (NYSE:LYB)

Meritage Portfolio Management acquired a new stake in LyondellBasell Industries (NYSE:LYB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 40,197 shares of the specialty chemicals company’s stock, valued at approximately $3,822,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new position in shares of LyondellBasell Industries during the third quarter worth about $25,000. FSC Wealth Advisors LLC bought a new position in shares of LyondellBasell Industries during the 3rd quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of LyondellBasell Industries in the third quarter worth $26,000. Venturi Wealth Management LLC boosted its holdings in LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 242 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in LyondellBasell Industries by 133.9% in the third quarter. Newbridge Financial Services Group Inc. now owns 393 shares of the specialty chemicals company’s stock valued at $37,000 after purchasing an additional 225 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on LYB. Vertical Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. boosted their price target on LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, March 22nd. Barclays increased their price objective on LyondellBasell Industries from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, April 4th. Wolfe Research initiated coverage on shares of LyondellBasell Industries in a report on Friday, March 1st. They set an “underperform” rating on the stock. Finally, Citigroup increased their price target on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries presently has an average rating of “Hold” and a consensus target price of $103.82.

Insider Activity

In other news, Director Robin W.T. Buchanan sold 18,111 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the completion of the sale, the director now owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other LyondellBasell Industries news, EVP Kenneth Todd Lane sold 29,229 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $99.19, for a total transaction of $2,899,224.51. Following the completion of the transaction, the executive vice president now owns 91,758 shares of the company’s stock, valued at $9,101,476.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robin W.T. Buchanan sold 18,111 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the sale, the director now directly owns 12,276 shares in the company, valued at $1,233,246.96. The disclosure for this sale can be found here. In the last three months, insiders sold 80,853 shares of company stock worth $8,077,267. 0.11% of the stock is currently owned by company insiders.

LyondellBasell Industries Stock Performance

Shares of LYB traded down $1.10 during midday trading on Thursday, reaching $99.68. 1,717,736 shares of the stock were exchanged, compared to its average volume of 1,917,153. The stock’s 50 day simple moving average is $100.74 and its 200 day simple moving average is $96.39. The company has a market cap of $32.44 billion, a P/E ratio of 15.58, a PEG ratio of 1.24 and a beta of 1.19. LyondellBasell Industries has a twelve month low of $84.80 and a twelve month high of $106.69. The company has a quick ratio of 1.17, a current ratio of 1.84 and a debt-to-equity ratio of 0.80.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.07). LyondellBasell Industries had a net margin of 5.16% and a return on equity of 21.89%. The business had revenue of $9.93 billion during the quarter, compared to the consensus estimate of $9.85 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, sell-side analysts expect that LyondellBasell Industries will post 8.63 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, March 4th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $5.00 annualized dividend and a yield of 5.02%. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

About LyondellBasell Industries

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.