LyondellBasell Industries N.V. $LYB Position Trimmed by HB Wealth Management LLC

HB Wealth Management LLC trimmed its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 3.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,976 shares of the specialty chemicals company’s stock after selling 395 shares during the period. HB Wealth Management LLC’s holdings in LyondellBasell Industries were worth $577,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

LYB has been the subject of a number of recent analyst reports. Royal Bank Of Canada decreased their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. UBS Group decreased their price objective on shares of LyondellBasell Industries from $49.00 to $44.00 and set a “sell” rating for the company in a research note on Thursday, August 7th. Mizuho decreased their price objective on shares of LyondellBasell Industries from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday. Rothschild & Co Redburn decreased their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, September 12th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, LyondellBasell Industries presently has a consensus rating of “Hold” and an average price target of $60.13.

LyondellBasell Industries Stock Up 0.3%

LYB stock opened at $49.49 on Friday. LyondellBasell Industries N.V. has a 12-month low of $47.55 and a 12-month high of $96.81. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a market cap of $15.92 billion, a price-to-earnings ratio of 64.28 and a beta of 0.87. The company has a 50 day moving average of $53.48 and a two-hundred day moving average of $57.93.

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

LyondellBasell Industries Announces Dividend

The firm also recently declared 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. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.1%. LyondellBasell Industries’s dividend payout ratio (DPR) is currently 711.69%.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer owned 160,351 shares in the company, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

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.