Arrowpoint Investment Partners Singapore Pte. Ltd. Invests $352,000 in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Arrowpoint Investment Partners Singapore Pte. Ltd. has acquired a new stake in LyondellBasell Industries, purchasing 5,000 shares valued at approximately $352,000.
• LyondellBasell Industries reported $0.62 earnings per share for the last quarter, missing analyst expectations and marking a 11.8% revenue decline compared to the previous year.
• The company announced a quarterly dividend of $1.37 per share, with a significant annualized yield of 10.9%, despite a high dividend payout ratio of 711.69%.

Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,000 shares of the specialty chemicals company's stock, valued at approximately $352,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Rossby Financial LCC acquired a new stake in shares of LyondellBasell Industries during the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC lifted 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 lifted 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 lifted 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, Covestor Ltd lifted its holdings in LyondellBasell Industries by 107.6% during the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after purchasing an additional 284 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 0.9%

NYSE:LYB traded up $0.46 during trading hours on Thursday, hitting $53.39. The stock had a trading volume of 4,033,108 shares, compared to its average volume of 5,782,667. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $99.36. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 69.33, a P/E/G ratio of 3.43 and a beta of 0.85. The business's 50 day moving average is $59.12 and its 200-day moving average is $63.70.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the company posted $2.24 EPS. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

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 given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 10.3%. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LYB. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Citigroup cut their price target on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Fermium Researc raised shares of LyondellBasell Industries to a "strong-buy" rating in a report on Friday, April 25th. UBS Group cut their price target on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating for the company in a report on Thursday, August 7th. Finally, Piper Sandler dropped their target price 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. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average 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.