Clear Harbor Asset Management LLC Raises Stake in LyondellBasell Industries N.V. $LYB

Key Points

• Clear Harbor Asset Management LLC increased its stake in LyondellBasell Industries by 262.8% during the second quarter, acquiring a total of 10,869 shares valued at approximately $629,000.
• Institutional investors collectively own 71.20% of LyondellBasell's stock, with several funds significantly increasing their positions during the year.
• LyondellBasell recently declared a quarterly dividend of $1.37 per share, resulting in an annualized yield of 10.7%, despite a high dividend payout ratio of 711.69%.

Clear Harbor Asset Management LLC grew its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 262.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,869 shares of the specialty chemicals company's stock after purchasing an additional 7,873 shares during the period. Clear Harbor Asset Management LLC's holdings in LyondellBasell Industries were worth $629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in LYB. Pacer Advisors Inc. raised its stake in shares of LyondellBasell Industries by 3,502.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock worth $141,893,000 after buying an additional 1,959,576 shares during the last quarter. HighTower Advisors LLC raised its stake in shares of LyondellBasell Industries by 137.9% during the 1st quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company's stock worth $123,907,000 after buying an additional 1,020,169 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of LyondellBasell Industries by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock worth $650,465,000 after buying an additional 657,443 shares during the last quarter. Nuveen LLC acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth $43,280,000. Finally, Invesco Ltd. raised its stake in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock worth $452,852,000 after buying an additional 606,234 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LYB. Mizuho lifted their price target on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Argus downgraded shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Royal Bank Of Canada cut their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Finally, Rothschild & Co Redburn cut their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $63.93.

Insiders Place Their Bets

In other LyondellBasell Industries 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 stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the transaction, the chief executive officer owned 160,351 shares in the company, valued at $8,590,003.07. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

LyondellBasell Industries Stock Down 1.8%

Shares of NYSE:LYB opened at $51.09 on Tuesday. 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 1 year low of $47.55 and a 1 year high of $97.60. The stock has a market capitalization of $16.43 billion, a P/E ratio of 66.36 and a beta of 0.85. The stock has a 50-day simple moving average of $56.00 and a 200-day simple moving average of $59.37.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (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 firm had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same quarter in the previous year, the firm posted $2.24 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 10.7%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

LyondellBasell Industries 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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