Gallacher Capital Management LLC Acquires New Position in LyondellBasell Industries (NYSE:LYB)

Gallacher Capital Management LLC bought a new position in LyondellBasell Industries (NYSE:LYB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,550 shares of the specialty chemicals company’s stock, valued at approximately $433,000.

Several other institutional investors have also modified their holdings of the stock. Cambridge Investment Research Advisors Inc. raised its position in shares of LyondellBasell Industries by 3.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 36,393 shares of the specialty chemicals company’s stock valued at $3,446,000 after buying an additional 1,095 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of LyondellBasell Industries by 2.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 113,361 shares of the specialty chemicals company’s stock valued at $10,735,000 after acquiring an additional 2,508 shares during the period. Brown Advisory Inc. increased its position in LyondellBasell Industries by 6.9% in the 3rd quarter. Brown Advisory Inc. now owns 2,962 shares of the specialty chemicals company’s stock valued at $281,000 after acquiring an additional 191 shares during the period. Monument Capital Management lifted its position in LyondellBasell Industries by 8.1% during the 3rd quarter. Monument Capital Management now owns 4,335 shares of the specialty chemicals company’s stock worth $411,000 after acquiring an additional 324 shares during the period. Finally, Concord Wealth Partners grew its stake in shares of LyondellBasell Industries by 86.6% in the 3rd quarter. Concord Wealth Partners now owns 9,022 shares of the specialty chemicals company’s stock valued at $854,000 after purchasing an additional 4,187 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYB. Citigroup increased their price target on LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. increased their price target on shares of LyondellBasell Industries from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. Wolfe Research started coverage on LyondellBasell Industries in a report on Friday, March 1st. They issued an “underperform” rating on the stock. Mizuho increased their target price on LyondellBasell Industries from $98.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Finally, Royal Bank of Canada lifted their price target on LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $104.75.

LyondellBasell Industries Price Performance

LYB traded up $0.34 during midday trading on Friday, reaching $99.12. 1,506,977 shares of the company’s stock were exchanged, compared to its average volume of 1,611,830. The business’s 50-day moving average price is $101.07 and its 200 day moving average price is $96.74. The stock has a market capitalization of $32.28 billion, a PE ratio of 15.32, a P/E/G ratio of 1.43 and a beta of 1.18. LyondellBasell Industries has a 1-year low of $84.80 and a 1-year high of $106.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.12 and a quick ratio of 1.32.

LyondellBasell Industries (NYSE:LYB) last posted its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.17. LyondellBasell Industries had a return on equity of 19.31% and a net margin of 5.20%. The firm had revenue of $9.93 billion for the quarter, compared to analyst estimates of $9.70 billion. During the same quarter in the prior year, the company earned $2.50 EPS. LyondellBasell Industries’s revenue was down 3.1% on a year-over-year basis. As a group, equities analysts anticipate that LyondellBasell Industries will post 8.5 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, March 4th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s dividend payout ratio is presently 77.28%.

Insiders Place Their Bets

In related 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 transaction, the director now owns 12,276 shares of the company’s stock, valued at $1,233,246.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other LyondellBasell Industries news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $2,770,460.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robin W.T. Buchanan sold 18,111 shares of the 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 directly owns 12,276 shares of the company’s stock, valued at approximately $1,233,246.96. The disclosure for this sale can be found here. Insiders have sold 80,853 shares of company stock valued at $8,077,267 in the last ninety days. Insiders own 0.11% of the company’s stock.

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.