JPMorgan Chase & Co. Has $295.61 Million Stock Position in LyondellBasell Industries (NYSE:LYB)

JPMorgan Chase & Co. lessened its stake in LyondellBasell Industries (NYSE:LYB) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,980,245 shares of the specialty chemicals company’s stock after selling 1,249,171 shares during the quarter. JPMorgan Chase & Co.’s holdings in LyondellBasell Industries were worth $295,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LYB. HighTower Advisors LLC lifted its stake in LyondellBasell Industries by 18.2% in the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock valued at $99,557,000 after acquiring an additional 159,803 shares during the last quarter. Quantinno Capital Management LP lifted its stake in LyondellBasell Industries by 23.1% in the 3rd quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock valued at $5,936,000 after purchasing an additional 11,610 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its holdings in LyondellBasell Industries by 202.4% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock worth $964,000 after purchasing an additional 8,691 shares during the period. Sound Income Strategies LLC increased its position in LyondellBasell Industries by 8.1% during the fourth quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock worth $20,174,000 after buying an additional 20,310 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in LyondellBasell Industries in the third quarter valued at approximately $7,537,000. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $69.81 on Monday. The stock’s fifty day moving average price is $75.58 and its two-hundred day moving average price is $81.11. The firm has a market cap of $22.58 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.83 and a quick ratio of 1.13. LyondellBasell Industries has a one year low of $69.74 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly 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 firm posted $1.26 earnings per share. As a group, research analysts expect 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 was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.68%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the business’s stock in a transaction on Wednesday, March 12th. The stock was purchased at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the completion of the purchase, the director now directly owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LYB. Wells Fargo & Company decreased their target price on LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. Barclays decreased their price objective on shares of LyondellBasell Industries from $90.00 to $80.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. UBS Group cut their target price on shares of LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. decreased their price target 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. Finally, Mizuho cut their price objective on shares of LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $88.25.

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.