SouthState Corp Sells 1,013 Shares of LyondellBasell Industries (NYSE:LYB)

SouthState Corp reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,716 shares of the specialty chemicals company’s stock after selling 1,013 shares during the quarter. SouthState Corp’s holdings in LyondellBasell Industries were worth $734,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. bought a new position in shares of LyondellBasell Industries during the 3rd quarter worth about $25,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in LyondellBasell Industries in the third quarter valued at approximately $26,000. McIlrath & Eck LLC increased its holdings in shares of LyondellBasell Industries by 100.7% during the fourth quarter. McIlrath & Eck LLC now owns 281 shares of the specialty chemicals company’s stock valued at $27,000 after acquiring an additional 141 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of LyondellBasell Industries by 410.2% during the fourth quarter. Venturi Wealth Management LLC now owns 301 shares of the specialty chemicals company’s stock worth $29,000 after purchasing an additional 242 shares during the period. Finally, Webster Bank N. A. lifted its holdings in shares of LyondellBasell Industries by 7,050.0% in the 4th quarter. Webster Bank N. A. now owns 429 shares of the specialty chemicals company’s stock worth $41,000 after purchasing an additional 423 shares in the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded up $0.34 during mid-day trading on Friday, reaching $99.12. The company had a trading volume of 1,506,977 shares, compared to its average volume of 1,925,721. The company’s 50-day moving average price is $101.08 and its 200-day moving average price is $96.67. LyondellBasell Industries has a one year low of $84.80 and a one year high of $106.69. The firm has a market cap of $32.28 billion, a price-to-earnings ratio of 15.32, a PEG ratio of 1.44 and a beta of 1.18. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.85.

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

LyondellBasell Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LYB shares. Citigroup raised their price objective on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the company a “neutral” rating in a research note on Wednesday, April 10th. Wolfe Research initiated coverage on LyondellBasell Industries in a report on Friday, March 1st. They set an “underperform” rating for the company. JPMorgan Chase & Co. raised their target price on LyondellBasell Industries from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, March 22nd. Royal Bank of Canada upped their price target on LyondellBasell Industries from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on LyondellBasell Industries from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $104.75.

Insider Transactions at LyondellBasell Industries

In related news, CFO Michael C. Mcmurray sold 16,940 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $100.84, for a total transaction of $1,708,229.60. Following the sale, the chief financial officer now directly owns 88,858 shares in the company, valued at approximately $8,960,440.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Chukwuemeka A. Oyolu sold 7,084 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $100.47, for a total value of $711,729.48. Following the sale, the chief accounting officer now directly 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 SEC, which is available at this link. Also, CFO Michael C. Mcmurray sold 16,940 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $100.84, for a total transaction of $1,708,229.60. Following the sale, the chief financial officer now directly owns 88,858 shares in the company, valued at approximately $8,960,440.72. The disclosure for this sale can be found here. Insiders sold 80,853 shares of company stock worth $8,077,267 over the last quarter. Corporate insiders own 0.11% of the company’s stock.

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.