State of Michigan Retirement System Buys 1,400 Shares of LyondellBasell Industries (NYSE:LYB)

State of Michigan Retirement System grew its stake in shares of LyondellBasell Industries (NYSE:LYB) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,165 shares of the specialty chemicals company’s stock after buying an additional 1,400 shares during the period. State of Michigan Retirement System’s holdings in LyondellBasell Industries were worth $5,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. HighTower Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 18.2% during the 3rd quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock valued at $99,557,000 after purchasing an additional 159,803 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LyondellBasell Industries by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of LyondellBasell Industries by 23.1% during 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 in the last quarter. Fifth Third Wealth Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 202.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock valued at $964,000 after purchasing an additional 8,691 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of LyondellBasell Industries by 8.1% during the 4th quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock valued at $20,174,000 after purchasing an additional 20,310 shares in the last quarter. Institutional investors own 71.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LYB shares. Morgan Stanley cut their price objective on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Mizuho cut their target price on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, December 9th. StockNews.com cut LyondellBasell Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th. UBS Group cut their target price on LyondellBasell Industries from $77.00 to $76.00 and set a “neutral” rating on the stock in a research note on Monday, February 3rd. Finally, Piper Sandler cut their target price 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. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average price target of $88.25.

Insider Buying and Selling

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the acquisition, the director now owns 18,175 shares of the company’s stock, valued at $1,382,390.50. The trade was a 37.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by insiders.

LyondellBasell Industries Stock Down 0.5 %

NYSE:LYB opened at $75.83 on Friday. The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a twelve month low of $72.21 and a twelve month high of $107.02. The stock’s 50 day moving average price is $75.97 and its two-hundred day moving average price is $83.91. 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 (NYSE:LYB) last posted its quarterly earnings results on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share for the quarter, missing the consensus estimate 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 posted $1.26 EPS. Equities research analysts expect that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $1.34 per share. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.07%. The ex-dividend date is Monday, March 10th. LyondellBasell Industries’s payout ratio is presently 129.47%.

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.