Public Employees Retirement System of Ohio Lowers Stake in LyondellBasell Industries N.V. $LYB

Public Employees Retirement System of Ohio lowered its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 7.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,530 shares of the specialty chemicals company’s stock after selling 6,651 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in LyondellBasell Industries were worth $4,602,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rossby Financial LCC purchased a new stake in LyondellBasell Industries during the first quarter valued at $25,000. JFS Wealth Advisors LLC raised its stake in LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock valued at $28,000 after purchasing an additional 310 shares in the last quarter. Investment Management Corp VA ADV raised its stake in LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock valued at $29,000 after purchasing an additional 261 shares in the last quarter. TruNorth Capital Management LLC purchased a new stake in LyondellBasell Industries during the first quarter valued at $42,000. Finally, VSM Wealth Advisory LLC raised its stake in LyondellBasell Industries by 200.0% during the first quarter. VSM Wealth Advisory LLC now owns 600 shares of the specialty chemicals company’s stock valued at $42,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 71.20% of the company’s stock.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the transaction, the chief executive officer directly owned 160,351 shares of the company’s stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LYB has been the topic of several recent analyst reports. Evercore ISI reduced their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 23rd. UBS Group reduced their target price on shares of LyondellBasell Industries from $49.00 to $44.00 and set a “sell” rating on the stock in a research note on Thursday, August 7th. Royal Bank Of Canada reduced their target price on shares of 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 reduced their target price on shares of LyondellBasell Industries from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Finally, Rothschild & Co Redburn reduced their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, September 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $64.00.

LyondellBasell Industries Trading Down 1.0%

Shares of NYSE:LYB opened at $48.98 on Tuesday. The business’s 50-day moving average is $54.70 and its 200 day moving average is $58.53. LyondellBasell Industries N.V. has a 1 year low of $47.55 and a 1 year high of $97.39. The firm has a market capitalization of $15.75 billion, a P/E ratio of 63.61 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 analysts’ consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $2.24 earnings per share. On average, research analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s payout ratio is 711.69%.

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.