Sound Income Strategies LLC Grows Stake in LyondellBasell Industries (NYSE:LYB)

Sound Income Strategies LLC increased its holdings in shares of LyondellBasell Industries (NYSE:LYB) by 8.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,626 shares of the specialty chemicals company’s stock after purchasing an additional 20,310 shares during the quarter. LyondellBasell Industries makes up approximately 1.2% of Sound Income Strategies LLC’s portfolio, making the stock its 23rd biggest position. Sound Income Strategies LLC’s holdings in LyondellBasell Industries were worth $20,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rockland Trust Co. raised its holdings in shares of LyondellBasell Industries by 0.9% in the third quarter. Rockland Trust Co. now owns 13,070 shares of the specialty chemicals company’s stock worth $1,253,000 after acquiring an additional 112 shares during the last quarter. Petredis Investment Advisors LLC increased its position in LyondellBasell Industries by 0.5% during the 3rd quarter. Petredis Investment Advisors LLC now owns 23,100 shares of the specialty chemicals company’s stock worth $2,215,000 after purchasing an additional 116 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in LyondellBasell Industries by 25.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 601 shares of the specialty chemicals company’s stock valued at $58,000 after purchasing an additional 122 shares during the last quarter. Castleview Partners LLC lifted its holdings in LyondellBasell Industries by 7.2% in the 3rd quarter. Castleview Partners LLC now owns 2,023 shares of the specialty chemicals company’s stock valued at $194,000 after purchasing an additional 136 shares in the last quarter. Finally, Oliver Luxxe Assets LLC boosted its stake in shares of LyondellBasell Industries by 0.7% during the 3rd quarter. Oliver Luxxe Assets LLC now owns 22,184 shares of the specialty chemicals company’s stock worth $2,127,000 after purchasing an additional 146 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other LyondellBasell Industries news, Director Robin W.T. Buchanan bought 5,000 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $76.06 per share, with a total value of $380,300.00. Following the completion of the transaction, the director now owns 18,175 shares in the company, valued at $1,382,390.50. The trade was a 37.95 % 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. Insiders own 0.11% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $77.35 on Friday. The company has a current ratio of 2.13, a quick ratio of 1.25 and a debt-to-equity ratio of 0.81. The company has a market cap of $25.12 billion, a PE ratio of 11.77, a P/E/G ratio of 5.07 and a beta of 1.06. The company’s fifty day simple moving average is $77.23 and its 200-day simple moving average is $88.05. LyondellBasell Industries has a 52 week low of $72.21 and a 52 week high of $107.02.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, November 1st. The specialty chemicals company reported $1.88 EPS for the quarter, missing the consensus estimate of $1.98 by ($0.10). LyondellBasell Industries had a net margin of 5.29% and a return on equity of 17.05%. The company had revenue of $10.33 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that LyondellBasell Industries will post 6.48 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, December 2nd were given a $1.34 dividend. This represents a $5.36 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend was Monday, December 2nd. LyondellBasell Industries’s dividend payout ratio (DPR) is 81.58%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LYB. Morgan Stanley cut their price objective on shares of LyondellBasell Industries from $110.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft reduced their price target on LyondellBasell Industries from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Piper Sandler reaffirmed a “neutral” rating and issued a $95.00 price objective (down previously from $112.00) on shares of LyondellBasell Industries in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their target price on LyondellBasell Industries from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Friday, December 6th. Finally, Mizuho lowered their price target on LyondellBasell Industries from $97.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, LyondellBasell Industries currently has an average rating of “Hold” and an average price target of $94.33.

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.