Jacobi Capital Management LLC Buys 590 Shares of LyondellBasell Industries N.V. $LYB

Jacobi Capital Management LLC lifted its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 12.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,364 shares of the specialty chemicals company’s stock after buying an additional 590 shares during the quarter. Jacobi Capital Management LLC’s holdings in LyondellBasell Industries were worth $378,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of LyondellBasell Industries by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock valued at $650,465,000 after buying an additional 657,443 shares during the last quarter. Invesco Ltd. grew its position in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock worth $452,852,000 after buying an additional 606,234 shares during the period. Federated Hermes Inc. lifted its holdings in shares of LyondellBasell Industries by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company’s stock valued at $333,994,000 after purchasing an additional 534,456 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LyondellBasell Industries by 12.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company’s stock valued at $316,113,000 after purchasing an additional 509,996 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of LyondellBasell Industries by 15.7% during the 1st quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company’s stock valued at $289,014,000 after purchasing an additional 557,397 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB opened at $55.20 on Friday. The business has a 50-day moving average of $57.37 and a 200-day moving average of $60.45. LyondellBasell Industries N.V. has a 1 year low of $47.55 and a 1 year high of $97.60. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 71.69 and a beta of 0.85. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the business earned $2.24 EPS. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s dividend payout ratio (DPR) is 711.69%.

Insider Buying and Selling

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the sale, the chief executive officer owned 160,351 shares of the company’s stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

LYB has been the topic of several research reports. Royal Bank Of Canada cut their target price on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Citigroup decreased their target price on LyondellBasell Industries from $56.00 to $53.00 and set a “neutral” rating on the stock in a report on Monday, August 4th. UBS Group decreased their price objective on LyondellBasell Industries from $49.00 to $44.00 and set a “sell” rating on the stock in a report on Thursday, August 7th. Mizuho upped their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the company a “neutral” rating in a report on Tuesday, July 15th. Finally, Wells Fargo & Company cut their target price on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $63.08.

About LyondellBasell Industries

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.