Chase Investment Counsel Corp Invests $760,000 in LyondellBasell Industries (NYSE:LYB)

Chase Investment Counsel Corp purchased a new position in LyondellBasell Industries (NYSE:LYB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,000 shares of the specialty chemicals company’s stock, valued at approximately $760,000.

A number of other large investors have also recently made changes to their positions in LYB. Pacer Advisors Inc. grew its stake in shares of LyondellBasell Industries by 35.5% in the fourth quarter. Pacer Advisors Inc. now owns 3,571,985 shares of the specialty chemicals company’s stock worth $339,624,000 after acquiring an additional 935,430 shares during the period. Invesco Ltd. grew its stake in shares of LyondellBasell Industries by 24.9% in the third quarter. Invesco Ltd. now owns 4,085,474 shares of the specialty chemicals company’s stock worth $386,894,000 after acquiring an additional 815,083 shares during the period. FMR LLC grew its position in LyondellBasell Industries by 10.3% during the third quarter. FMR LLC now owns 8,408,551 shares of the specialty chemicals company’s stock valued at $796,290,000 after buying an additional 787,221 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in LyondellBasell Industries during the third quarter valued at approximately $67,160,000. Finally, Bank of Nova Scotia grew its position in LyondellBasell Industries by 3,162.5% during the third quarter. Bank of Nova Scotia now owns 614,259 shares of the specialty chemicals company’s stock valued at $58,170,000 after buying an additional 595,431 shares during the period. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock traded down $1.06 during mid-day trading on Monday, reaching $101.07. 596,081 shares of the company’s stock traded hands, compared to its average volume of 1,909,495. LyondellBasell Industries has a 12-month low of $84.80 and a 12-month high of $106.69. The company has a market cap of $32.89 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.25 and a beta of 1.19. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 0.85. The stock has a 50 day moving average of $100.87 and a two-hundred day moving average of $96.52.

LyondellBasell Industries (NYSE:LYB) last announced its earnings results on Friday, April 26th. The specialty chemicals company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.17. LyondellBasell Industries had a net margin of 5.20% and a return on equity of 19.31%. The business had revenue of $9.93 billion for the quarter, compared to the consensus estimate of $9.70 billion. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The business’s revenue for the quarter was down 3.1% on a year-over-year basis. Equities analysts forecast that LyondellBasell Industries will post 8.69 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, March 4th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date was Friday, March 1st. LyondellBasell Industries’s payout ratio is presently 77.28%.

Insider Transactions at LyondellBasell Industries

In other news, Director Robin W.T. Buchanan sold 18,111 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $100.46, for a total value of $1,819,431.06. Following the transaction, the director now directly owns 12,276 shares in the company, valued at $1,233,246.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other LyondellBasell Industries news, Director Robin W.T. Buchanan sold 18,111 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $100.46, for a total transaction of $1,819,431.06. Following the transaction, the director now directly owns 12,276 shares in the company, valued at approximately $1,233,246.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Michael C. Mcmurray sold 16,940 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 88,858 shares in the company, valued at $8,960,440.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 80,853 shares of company stock worth $8,077,267. Insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LYB. Mizuho boosted their target price on shares of LyondellBasell Industries from $98.00 to $108.00 and gave the company a “neutral” rating in a research report on Monday. Wells Fargo & Company boosted their target price on shares of LyondellBasell Industries from $105.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Royal Bank of Canada boosted their target price on shares of LyondellBasell Industries from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Monday. Citigroup upped their price target on shares of LyondellBasell Industries from $96.00 to $104.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Finally, Wolfe Research began coverage on shares of LyondellBasell Industries in a research report on Friday, March 1st. They issued an “underperform” rating for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and an average target price of $104.67.

LyondellBasell Industries Company 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.