1832 Asset Management L.P. Has $1.60 Million Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• 1832 Asset Management L.P. has reduced its holdings in LyondellBasell Industries N.V. by 18.4%, selling 5,127 shares and holding 22,726 shares valued at $1.6 million after the sale.
• CEO Peter Z. E. Vanacker sold 20,000 shares of the company at $53.57 per share, resulting in a 11.09% decrease in his ownership.
• Multiple analysts have downgraded stock price targets for LyondellBasell, with the consensus target now set at $63.08, reflecting a bearish sentiment among leading research firms.

1832 Asset Management L.P. lowered its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 18.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,726 shares of the specialty chemicals company's stock after selling 5,127 shares during the period. 1832 Asset Management L.P.'s holdings in LyondellBasell Industries were worth $1,600,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $650,465,000 after purchasing an additional 657,443 shares during the period. Invesco Ltd. boosted its holdings 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 valued at $452,852,000 after purchasing an additional 606,234 shares during the period. Federated Hermes Inc. boosted its holdings 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 valued at $333,994,000 after purchasing an additional 534,456 shares during the period. JPMorgan Chase & Co. boosted its holdings 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 valued at $316,113,000 after purchasing an additional 509,996 shares during the period. Finally, Northern Trust Corp boosted its holdings in LyondellBasell Industries by 10.0% in the 4th quarter. Northern Trust Corp now owns 2,726,246 shares of the specialty chemicals company's stock valued at $202,478,000 after purchasing an additional 247,336 shares during the period. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

LYB stock traded up $0.47 during trading on Friday, reaching $56.33. 3,499,657 shares of the company were exchanged, compared to its average volume of 4,848,330. The company has a 50-day moving average of $58.29 and a two-hundred day moving average of $61.89. The company has a market capitalization of $18.12 billion, a price-to-earnings ratio of 73.15 and a beta of 0.85. LyondellBasell Industries N.V. has a twelve month low of $47.55 and a twelve month high of $99.02. 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 - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion for 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%.LyondellBasell Industries'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 company earned $2.24 earnings per share. As a group, equities analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 9.7%. The ex-dividend date is Monday, August 25th. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

Insider Transactions at LyondellBasell Industries

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LYB. Mizuho boosted their target price on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Bank Of America (Bofa) dropped their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" 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 assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of "Hold" and a consensus target price of $63.08.

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.