LyondellBasell Industries N.V. $LYB Shares Purchased by Allstate Corp

Key Points

• Allstate Corp increased its stake in LyondellBasell Industries by 82.8% in Q1, now owning shares worth approximately $1 million.
• Several institutional investors, including Ameriprise Financial and Norinchukin Bank, also boosted their holdings in LyondellBasell during the same period, leading to institutional ownership of 71.20%.
• LyondellBasell's recent quarterly earnings missed estimates with an EPS of $0.62 while the company announced a $1.37 quarterly dividend, representing a high payout ratio of 711.69%.

Allstate Corp grew its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 82.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,224 shares of the specialty chemicals company's stock after purchasing an additional 6,443 shares during the period. Allstate Corp's holdings in LyondellBasell Industries were worth $1,001,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LYB. Bank Pictet & Cie Europe AG boosted its position in LyondellBasell Industries by 26.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock valued at $14,013,000 after buying an additional 39,957 shares during the period. TD Waterhouse Canada Inc. raised its stake in shares of LyondellBasell Industries by 29.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,869 shares of the specialty chemicals company's stock valued at $213,000 after acquiring an additional 648 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of LyondellBasell Industries by 126.7% in the fourth quarter. Hsbc Holdings PLC now owns 291,384 shares of the specialty chemicals company's stock valued at $21,486,000 after purchasing an additional 162,841 shares during the period. Price T Rowe Associates Inc. MD grew its stake in LyondellBasell Industries by 1.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 366,472 shares of the specialty chemicals company's stock worth $27,218,000 after purchasing an additional 6,945 shares in the last quarter. Finally, MGO One Seven LLC grew its stake in LyondellBasell Industries by 27.1% in the fourth quarter. MGO One Seven LLC now owns 5,306 shares of the specialty chemicals company's stock worth $394,000 after purchasing an additional 1,132 shares in the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on LYB. Citigroup lowered their price objective on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Bank Of America (Bofa) reduced their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Mizuho lifted their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. Piper Sandler reduced their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Barclays dropped their target price on LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $63.08.

LyondellBasell Industries Stock Up 0.8%

LYB traded up $0.44 during trading on Friday, hitting $56.30. The stock had a trading volume of 2,428,085 shares, compared to its average volume of 3,908,286. The stock has a 50 day simple moving average of $58.33 and a two-hundred day simple moving average of $62.23. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries N.V. has a twelve month low of $47.55 and a twelve month high of $99.02. The company has a market capitalization of $18.11 billion, a PE ratio of 73.01 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share 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 analysts' expectations of $7.58 billion. During the same quarter last year, the firm earned $2.24 earnings per share. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

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

Insider Activity at LyondellBasell Industries

In related 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 value of $1,071,400.00. Following the completion of the sale, the chief executive officer directly owned 160,351 shares in the company, valued at $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 is available at this link. 0.14% of the stock is owned by insiders.

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.