Ameriprise Financial Inc. Acquires 148,526 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Ameriprise Financial Inc. increased its stake in LyondellBasell Industries by 22.1%, acquiring an additional 148,526 shares, bringing its total holdings to approximately $57.7 million.
• CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell for about $1.07 million, reducing his ownership stake by 11.09%.
• Several analysts have reduced their price targets for LyondellBasell, with a current average target price of $63.08, and the stock receives an average rating of "Hold".

Ameriprise Financial Inc. lifted its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 22.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 819,917 shares of the specialty chemicals company's stock after buying an additional 148,526 shares during the period. Ameriprise Financial Inc. owned about 0.26% of LyondellBasell Industries worth $57,712,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rossby Financial LCC bought a new stake in shares of LyondellBasell Industries in the 1st quarter worth about $25,000. JFS Wealth Advisors LLC grew its holdings in LyondellBasell Industries by 352.3% during the 1st 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 during the last quarter. Investment Management Corp VA ADV grew its holdings in LyondellBasell Industries by 177.6% during the 1st 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 during the last quarter. Lazard Asset Management LLC grew its holdings in LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new position in LyondellBasell Industries during the 1st quarter valued at about $42,000. 71.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling at LyondellBasell Industries

In other 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 sale, the chief executive officer owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. BMO Capital Markets cut their price target on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Piper Sandler dropped their target price on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays dropped their target price on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. One equities 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 issued a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries currently has an average rating of "Hold" and a consensus target price of $63.08.

LyondellBasell Industries Price Performance

Shares of LYB opened at $56.39 on Thursday. The company has a 50 day moving average price of $58.38 and a 200-day moving average price of $62.36. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $99.02. The stock has a market capitalization of $18.14 billion, a PE ratio of 73.23 and a beta of 0.85. 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 (NYSE:LYB - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the previous year, the company posted $2.24 EPS. LyondellBasell Industries's revenue for the quarter was down 11.8% on a year-over-year basis. Equities analysts predict 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 will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 9.7%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's dividend payout ratio is presently 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.

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