LyondellBasell Industries N.V. (NYSE:LYB) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in LyondellBasell Industries by 7.7% in the first quarter, owning 9,239,562 shares valued at approximately $650 million.
• LyondellBasell reported a Q2 EPS of $0.62, missing analysts' estimates of $0.87, and had a revenue of $7.66 billion, which was better than forecasts but down 11.8% year-over-year.
• The company declared a quarterly dividend of $1.37 per share, resulting in a substantial annualized dividend yield of 10.9% despite a high dividend payout ratio of 711.69%.

Charles Schwab Investment Management Inc. grew its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,239,562 shares of the specialty chemicals company's stock after acquiring an additional 657,443 shares during the period. Charles Schwab Investment Management Inc. owned about 2.87% of LyondellBasell Industries worth $650,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vident Advisory LLC lifted its position in shares of LyondellBasell Industries by 0.8% during the 4th quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock valued at $1,197,000 after acquiring an additional 131 shares during the period. NewSquare Capital LLC lifted its position in shares of LyondellBasell Industries by 0.3% during the 1st quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock valued at $4,932,000 after acquiring an additional 193 shares during the period. Forza Wealth Management LLC lifted its position in shares of LyondellBasell Industries by 1.6% during the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock valued at $894,000 after acquiring an additional 200 shares during the period. TCW Group Inc. lifted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock valued at $1,297,000 after acquiring an additional 202 shares during the period. Finally, M&T Bank Corp raised its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after purchasing an additional 209 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYB has been the subject of several research reports. Piper Sandler cut their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Wells Fargo & Company cut their price objective on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Bank Of America (Bofa) cut their price objective on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. JPMorgan Chase & Co. cut their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Finally, Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Three equities research 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. Based on data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Trading Up 3.7%

NYSE:LYB traded up $1.80 on Tuesday, hitting $50.14. 2,277,387 shares of the stock were exchanged, compared to its average volume of 3,890,654. The stock has a fifty day moving average of $59.34 and a 200-day moving average of $64.05. The stock has a market cap of $16.13 billion, a PE ratio of 65.10, a PEG ratio of 3.18 and a beta of 0.85. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $99.36.

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 analysts' consensus estimates of $0.87 by ($0.25). The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company's quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $2.24 earnings per share. As a group, equities analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 10.9%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's payout ratio is 711.69%.

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.