LyondellBasell Industries (NYSE:LYB) Short Interest Up 21.8% in March

LyondellBasell Industries (NYSE:LYB) was the recipient of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 6,880,000 shares, a growth of 21.8% from the February 28th total of 5,650,000 shares. Based on an average trading volume of 2,900,000 shares, the days-to-cover ratio is presently 2.4 days. Currently, 2.7% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LYB. Morgan Stanley cut 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. Piper Sandler lowered their price objective on LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. The Goldman Sachs Group lowered their price target on LyondellBasell Industries from $96.00 to $86.00 and set a “sell” rating on the stock in a report on Thursday, December 12th. Barclays reduced their price target on shares of LyondellBasell Industries from $80.00 to $72.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Royal Bank of Canada increased their price objective on shares of LyondellBasell Industries from $82.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, LyondellBasell Industries presently has a consensus rating of “Hold” and a consensus price target of $87.58.

Insider Buying and Selling at LyondellBasell Industries

In related news, Director Michael Sean Hanley acquired 3,750 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was acquired at an average cost of $72.05 per share, for a total transaction of $270,187.50. Following the acquisition, the director now owns 16,028 shares of the company’s stock, valued at $1,154,817.40. This trade represents a 30.54 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.11% of the company’s stock.

Institutional Trading of LyondellBasell Industries

Several hedge funds have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in LyondellBasell Industries by 110.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,171 shares of the specialty chemicals company’s stock worth $82,000 after buying an additional 614 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of LyondellBasell Industries by 603.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 216,142 shares of the specialty chemicals company’s stock worth $16,053,000 after purchasing an additional 185,418 shares during the last quarter. Anchor Pointe Wealth Management LLC purchased a new position in LyondellBasell Industries in the 4th quarter worth about $209,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in LyondellBasell Industries in the 4th quarter valued at about $13,697,000. Finally, Jefferies Financial Group Inc. increased its position in shares of LyondellBasell Industries by 30.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 38,823 shares of the specialty chemicals company’s stock worth $2,883,000 after acquiring an additional 9,143 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Price Performance

NYSE:LYB traded up $0.56 on Wednesday, reaching $70.60. 968,479 shares of the company’s stock traded hands, compared to its average volume of 2,875,065. 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 has a 12 month low of $69.12 and a 12 month high of $107.02. The stock has a 50-day simple moving average of $75.29 and a 200-day simple moving average of $80.78. The firm has a market cap of $22.84 billion, a PE ratio of 17.05, a P/E/G ratio of 0.97 and a beta of 1.06.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, January 31st. The specialty chemicals company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the firm posted $1.26 EPS. Equities research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $1.34 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $5.36 dividend on an annualized basis and a dividend yield of 7.59%. LyondellBasell Industries’s payout ratio is 129.47%.

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.