Wedge Capital Management L L P NC Buys 13,701 Shares of LyondellBasell Industries N.V. $LYB

Wedge Capital Management L L P NC increased its stake in LyondellBasell Industries N.V. (NYSE:LYB) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 136,438 shares of the specialty chemicals company’s stock after acquiring an additional 13,701 shares during the quarter. Wedge Capital Management L L P NC’s holdings in LyondellBasell Industries were worth $5,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of LyondellBasell Industries in the 2nd quarter worth approximately $280,000,000. Capital Research Global Investors increased its position in shares of LyondellBasell Industries by 470.1% during the third quarter. Capital Research Global Investors now owns 4,389,442 shares of the specialty chemicals company’s stock worth $215,258,000 after buying an additional 3,619,468 shares during the period. Capital World Investors raised its stake in LyondellBasell Industries by 13.1% during the third quarter. Capital World Investors now owns 9,807,743 shares of the specialty chemicals company’s stock worth $480,972,000 after buying an additional 1,135,258 shares during the last quarter. Ameriprise Financial Inc. raised its stake in LyondellBasell Industries by 67.5% during the second quarter. Ameriprise Financial Inc. now owns 1,372,998 shares of the specialty chemicals company’s stock worth $79,438,000 after buying an additional 553,081 shares during the last quarter. Finally, State Street Corp lifted its holdings in LyondellBasell Industries by 4.1% in the second quarter. State Street Corp now owns 12,915,151 shares of the specialty chemicals company’s stock valued at $747,271,000 after buying an additional 514,057 shares during the period. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

LYB stock opened at $80.59 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.77 and a quick ratio of 1.20. The company’s 50-day moving average is $60.73 and its 200-day moving average is $51.58. The stock has a market capitalization of $25.96 billion, a PE ratio of -34.59, a price-to-earnings-growth ratio of 0.46 and a beta of 0.64. LyondellBasell Industries N.V. has a 1 year low of $41.58 and a 1 year high of $81.26.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Saturday, February 21st. The specialty chemicals company reported ($0.26) EPS for the quarter. The firm had revenue of $7.09 billion during the quarter. LyondellBasell Industries had a negative net margin of 2.46% and a positive return on equity of 4.93%. Equities research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 9th. Stockholders of record on Monday, March 2nd were issued a dividend of $0.69 per share. The ex-dividend date was Monday, March 2nd. This represents a $2.76 annualized dividend and a dividend yield of 3.4%. LyondellBasell Industries’s payout ratio is currently -118.45%.

Insider Buying and Selling at LyondellBasell Industries

In other news, major shareholder Ai Investments Holdings Llc sold 384,548 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $68.13, for a total transaction of $26,199,255.24. Following the transaction, the insider directly owned 5,270,918 shares of the company’s stock, valued at $359,107,643.34. This represents a 6.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

LYB has been the topic of a number of research analyst reports. KeyCorp raised shares of LyondellBasell Industries from a “sector weight” rating to an “overweight” rating and set a $73.00 price target on the stock in a research report on Wednesday, March 4th. Zacks Research raised LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. BMO Capital Markets upgraded LyondellBasell Industries from an “underperform” rating to a “market perform” rating and upped their target price for the company from $38.00 to $68.00 in a research report on Thursday, March 5th. Fermium Researc raised LyondellBasell Industries from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 9th. Finally, Citigroup upgraded LyondellBasell Industries from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $49.00 to $76.00 in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.61.

LyondellBasell Industries Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.