Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in LyondellBasell Industries (NYSE:LYB)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in LyondellBasell Industries (NYSE:LYB) by 39.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 166,635 shares of the specialty chemicals company’s stock after buying an additional 46,808 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of LyondellBasell Industries worth $15,844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LYB. Vanguard Group Inc. lifted its holdings in LyondellBasell Industries by 1.1% during the first quarter. Vanguard Group Inc. now owns 30,852,225 shares of the specialty chemicals company’s stock valued at $3,172,226,000 after purchasing an additional 335,124 shares during the last quarter. State Street Corp increased its position in shares of LyondellBasell Industries by 2.9% during the first quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock valued at $1,266,977,000 after buying an additional 348,169 shares during the period. FMR LLC increased its position in shares of LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after buying an additional 787,221 shares during the period. Morgan Stanley increased its position in shares of LyondellBasell Industries by 9.9% during the third quarter. Morgan Stanley now owns 6,305,596 shares of the specialty chemicals company’s stock valued at $597,140,000 after buying an additional 569,887 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of LyondellBasell Industries by 4.0% during the third quarter. Federated Hermes Inc. now owns 5,667,924 shares of the specialty chemicals company’s stock valued at $536,752,000 after buying an additional 217,461 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

NYSE:LYB opened at $99.40 on Friday. The firm has a market cap of $32.35 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 1.23 and a beta of 1.19. LyondellBasell Industries has a fifty-two week low of $84.80 and a fifty-two week high of $106.69. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.17 and a current ratio of 1.84. The business has a 50 day moving average price of $100.31 and a 200-day moving average price of $96.13.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, February 2nd. The specialty chemicals company reported $1.26 earnings per share 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 company had revenue of $9.93 billion for the quarter, compared to analysts’ expectations of $9.85 billion. During the same period last year, the company posted $1.29 EPS. The business’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts predict that LyondellBasell Industries will post 8.63 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s payout ratio is 77.28%.

Wall Street Analyst Weigh In

LYB has been the topic of several analyst reports. Barclays upped their price target on LyondellBasell Industries from $98.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 4th. Wolfe Research started coverage on shares of LyondellBasell Industries in a research report on Friday, March 1st. They issued an “underperform” rating on the stock. Vertical Research upgraded shares of LyondellBasell Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, January 3rd. 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 report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $103.82.

Insider Buying and Selling

In related news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the sale, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at $2,770,460.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Michael C. Mcmurray sold 16,940 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $100.84, for a total value of $1,708,229.60. Following the completion of the sale, the chief financial officer now owns 88,858 shares of the company’s stock, valued at $8,960,440.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $100.47, for a total value of $711,729.48. Following the completion of the transaction, the chief accounting officer now owns 27,575 shares of the company’s stock, valued at approximately $2,770,460.25. The disclosure for this sale can be found here. Insiders sold 80,853 shares of company stock valued at $8,077,267 over the last quarter. 0.12% of the stock is owned by company insiders.

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.