Sterling Capital Management LLC Grows Position in LyondellBasell Industries (NYSE:LYB)

Sterling Capital Management LLC raised its position in LyondellBasell Industries (NYSE:LYB) by 55.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,430 shares of the specialty chemicals company’s stock after acquiring an additional 5,504 shares during the quarter. Sterling Capital Management LLC’s holdings in LyondellBasell Industries were worth $1,146,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heritage Trust Co acquired a new position in shares of LyondellBasell Industries during the fourth quarter worth $2,126,000. Covestor Ltd lifted its stake in LyondellBasell Industries by 107.6% during the fourth quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 284 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in LyondellBasell Industries by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 114,486 shares of the specialty chemicals company’s stock valued at $8,503,000 after purchasing an additional 720 shares in the last quarter. Martingale Asset Management L P raised its holdings in LyondellBasell Industries by 20.7% during the fourth quarter. Martingale Asset Management L P now owns 55,194 shares of the specialty chemicals company’s stock worth $4,099,000 after purchasing an additional 9,476 shares in the last quarter. Finally, APG Asset Management N.V. lifted its position in shares of LyondellBasell Industries by 248.8% during the 4th quarter. APG Asset Management N.V. now owns 162,114 shares of the specialty chemicals company’s stock worth $11,627,000 after buying an additional 115,636 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley purchased 3,750 shares of LyondellBasell Industries stock in a transaction dated Wednesday, March 12th. The stock was bought at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the transaction, the director now owns 16,028 shares in the company, valued at approximately $1,154,817.40. The trade was a 30.54 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research report on Friday, April 4th. Citigroup reduced their target price on LyondellBasell Industries from $75.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, April 4th. Morgan Stanley dropped their price target on LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. UBS Group reiterated a “sell” rating and issued a $51.00 price objective (down previously from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Finally, Barclays lowered their target price on shares of LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $76.50.

LyondellBasell Industries Stock Down 1.3 %

LYB stock opened at $56.70 on Wednesday. The stock has a market capitalization of $18.34 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 0.97 and a beta of 0.89. The company has a fifty day moving average of $70.73 and a 200-day moving average of $77.92. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a one year low of $51.11 and a one year high of $107.02.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings data 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 net margin of 3.39% and a return on equity of 15.97%. During the same quarter last year, the company posted $1.26 earnings per share. As a group, analysts expect that LyondellBasell Industries will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 9.45%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is 129.47%.

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.