Atalanta Sosnoff Capital LLC Purchases New Position in LyondellBasell Industries N.V. $LYB

Key Points

• Atalanta Sosnoff Capital LLC acquired 5,677 shares of LyondellBasell Industries, valued at approximately $400,000, during the 1st quarter of 2023.
• CEO Peter Z. E. Vanacker sold 20,000 shares of the company at an average price of $53.57, reducing his ownership by 11.09%.
• LyondellBasell announced a $1.37 quarterly dividend per share, reflecting an annualized yield of 9.8% despite a high payout ratio of 711.69%.

Atalanta Sosnoff Capital LLC bought a new stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 5,677 shares of the specialty chemicals company's stock, valued at approximately $400,000.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its stake in shares of 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 buying an additional 657,443 shares in the last quarter. Invesco Ltd. raised its stake in shares of 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 buying an additional 606,234 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of 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 buying an additional 534,456 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of 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 buying an additional 509,996 shares in the last quarter. Finally, Ensign Peak Advisors Inc raised its stake in shares of LyondellBasell Industries by 207.8% in the 4th quarter. Ensign Peak Advisors Inc now owns 2,254,589 shares of the specialty chemicals company's stock valued at $167,448,000 after buying an additional 1,522,043 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Price Performance

NYSE:LYB traded up $0.74 during mid-day trading on Friday, reaching $55.04. 4,225,031 shares of the company were exchanged, compared to its average volume of 4,036,538. LyondellBasell Industries N.V. has a 12 month low of $47.55 and a 12 month high of $97.60. The company has a fifty day moving average of $58.00 and a 200 day moving average of $61.23. 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 stock has a market cap of $17.70 billion, a PE ratio of 71.48 and a beta of 0.85.

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

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were given 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 yield of 10.0%. LyondellBasell Industries's dividend payout ratio is presently 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 dated 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

LYB has been the subject of a number of recent research reports. Mizuho increased their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. JPMorgan Chase & Co. dropped their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Citigroup lowered their target price on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Finally, Bank Of America (Bofa) lowered their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently 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.