Allstate Corp Makes New $578,000 Investment in LyondellBasell Industries (NYSE:LYB)

Allstate Corp purchased a new stake in LyondellBasell Industries (NYSE:LYB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 7,781 shares of the specialty chemicals company’s stock, valued at approximately $578,000.

Several other large investors have also recently made changes to their positions in LYB. HighTower Advisors LLC increased its stake in LyondellBasell Industries by 18.2% during the third quarter. HighTower Advisors LLC now owns 1,038,687 shares of the specialty chemicals company’s stock worth $99,557,000 after purchasing an additional 159,803 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of LyondellBasell Industries by 3.7% in the third quarter. JPMorgan Chase & Co. now owns 5,229,416 shares of the specialty chemicals company’s stock valued at $501,501,000 after purchasing an additional 187,150 shares in the last quarter. Quantinno Capital Management LP increased its stake in LyondellBasell Industries by 23.1% during the 3rd quarter. Quantinno Capital Management LP now owns 61,897 shares of the specialty chemicals company’s stock worth $5,936,000 after buying an additional 11,610 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in LyondellBasell Industries by 202.4% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 12,986 shares of the specialty chemicals company’s stock worth $964,000 after buying an additional 8,691 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its position in LyondellBasell Industries by 8.1% in the 4th quarter. Sound Income Strategies LLC now owns 271,626 shares of the specialty chemicals company’s stock valued at $20,174,000 after buying an additional 20,310 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LyondellBasell Industries news, Director Michael Sean Hanley bought 3,750 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was acquired at an average price 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 approximately $1,154,817.40. This represents a 30.54 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

LyondellBasell Industries Stock Down 0.5 %

LyondellBasell Industries stock opened at $70.03 on Wednesday. The company has a market capitalization of $22.65 billion, a P/E ratio of 16.91, a PEG ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a fifty-two week low of $69.12 and a fifty-two week 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.

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

LyondellBasell Industries Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 7.65%. The ex-dividend date was Monday, March 10th. LyondellBasell Industries’s dividend payout ratio is currently 129.47%.

Analyst Upgrades and Downgrades

LYB has been the topic of several analyst reports. JPMorgan Chase & Co. reduced their price objective on LyondellBasell Industries from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Mizuho lowered their price objective on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, December 9th. Morgan Stanley cut their target price on shares of 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 decreased their price target on shares of LyondellBasell Industries from $95.00 to $84.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $95.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $87.58.

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.