Man Group plc Buys Shares of 40,073 LyondellBasell Industries (NYSE:LYB)

Man Group plc purchased a new position in LyondellBasell Industries (NYSE:LYB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 40,073 shares of the specialty chemicals company’s stock, valued at approximately $2,976,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nissay Asset Management Corp Japan ADV increased its stake in LyondellBasell Industries by 1.4% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 32,921 shares of the specialty chemicals company’s stock valued at $2,441,000 after acquiring an additional 440 shares during the last quarter. Nomura Holdings Inc. purchased a new position in shares of LyondellBasell Industries in the 4th quarter worth about $1,555,000. OMERS ADMINISTRATION Corp increased its position in shares of LyondellBasell Industries by 29.9% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 11,739 shares of the specialty chemicals company’s stock valued at $872,000 after purchasing an additional 2,702 shares during the last quarter. Occudo Quantitative Strategies LP raised its holdings in shares of LyondellBasell Industries by 12.1% during the 4th quarter. Occudo Quantitative Strategies LP now owns 17,480 shares of the specialty chemicals company’s stock valued at $1,298,000 after buying an additional 1,885 shares in the last quarter. Finally, Measured Risk Portfolios Inc. bought a new stake in LyondellBasell Industries in the 4th quarter worth approximately $2,193,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

Shares of LyondellBasell Industries stock opened at $56.30 on Friday. The business has a 50 day moving average of $61.01 and a 200 day moving average of $71.79. LyondellBasell Industries has a 52 week low of $51.11 and a 52 week high of $100.46. The company has a market cap of $18.09 billion, a PE ratio of 13.60, a P/E/G ratio of 0.97 and a beta of 0.87. 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 (NYSE:LYB) last issued its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a return on equity of 15.97% and a net margin of 3.39%. The company had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter last year, the company posted $1.53 earnings per share. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that LyondellBasell Industries will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $1.34 dividend. This represents a $5.36 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s payout ratio is currently 165.43%.

Analyst Ratings Changes

LYB has been the topic of a number of recent research reports. Royal Bank of Canada reduced their price target on shares of LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $60.00 target price (down previously from $80.00) on shares of LyondellBasell Industries in a report on Friday, April 4th. Piper Sandler lowered their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Morgan Stanley reduced their price objective 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. Finally, Fermium Researc raised LyondellBasell Industries to a “strong-buy” rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $69.75.

Insiders Place Their Bets

In other news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was purchased at an average price of $72.05 per share, with a total value of $270,187.50. Following the transaction, the director now owns 16,028 shares of the company’s stock, valued at approximately $1,154,817.40. The trade was a 30.54% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.