Franklin Resources Inc. Grows Position in LyondellBasell Industries (NYSE:LYB)

Franklin Resources Inc. boosted its stake in shares of LyondellBasell Industries (NYSE:LYB) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,894,956 shares of the specialty chemicals company’s stock after acquiring an additional 19,689 shares during the period. Franklin Resources Inc.’s holdings in LyondellBasell Industries were worth $215,008,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LYB. Webster Bank N. A. grew its position in LyondellBasell Industries by 70.4% during the fourth quarter. Webster Bank N. A. now owns 346 shares of the specialty chemicals company’s stock valued at $26,000 after acquiring an additional 143 shares during the period. Rosenberg Matthew Hamilton lifted its stake in shares of LyondellBasell Industries by 268.2% in the 4th quarter. Rosenberg Matthew Hamilton now owns 405 shares of the specialty chemicals company’s stock valued at $30,000 after purchasing an additional 295 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of LyondellBasell Industries during the 4th quarter worth about $37,000. Pinnacle Bancorp Inc. acquired a new stake in LyondellBasell Industries during the 4th quarter worth approximately $59,000. Finally, Crews Bank & Trust acquired a new position in LyondellBasell Industries during the fourth quarter valued at approximately $85,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

Insiders Place Their Bets

In related news, Director Michael Sean Hanley bought 3,750 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were bought 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 owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This represents a 30.54 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

LyondellBasell Industries Trading Down 0.5 %

NYSE LYB opened at $70.03 on Wednesday. The company’s fifty day moving average price is $75.29 and its two-hundred day moving average price is $80.78. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. LyondellBasell Industries has a 12 month low of $69.12 and a 12 month high of $107.02. 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 (NYSE:LYB) last posted 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 last year, the company earned $1.26 earnings per share. As a group, research analysts predict that LyondellBasell Industries will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $1.34 per share. This represents a $5.36 annualized dividend and a yield of 7.65%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 129.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on LYB shares. The Goldman Sachs Group cut their target price on shares of LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a research note on Thursday, December 12th. Barclays reduced their price objective on LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Piper Sandler lowered their target price on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Mizuho reduced their price target on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, December 9th. Finally, Morgan Stanley lowered their price objective on shares of LyondellBasell Industries from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. One equities research 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. According to data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and a consensus price target of $87.58.

LyondellBasell Industries Company 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.