Dakota Wealth Management Invests $770,000 in LyondellBasell Industries N.V. $LYB

Key Points

• Dakota Wealth Management has invested $770,000 in LyondellBasell Industries, purchasing 13,303 shares during the second quarter.
• Analysts have adjusted their price targets for LyondellBasell, with estimates ranging from $52.00 to $65.00, indicating a cautious outlook on the stock.
• The company declared a quarterly dividend of $1.37 per share, reflecting an annual yield of 11.1%, despite a payout ratio of 711.69%.

Dakota Wealth Management bought a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,303 shares of the specialty chemicals company's stock, valued at approximately $770,000.

Other hedge funds also recently modified their holdings of the company. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in shares of LyondellBasell Industries by 69.1% during the 2nd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company's stock worth $14,456,000 after buying an additional 102,140 shares during the last quarter. M&T Bank Corp lifted its stake 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 buying an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS lifted its stake in shares of LyondellBasell Industries by 166.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after buying an additional 148,500 shares during the last quarter. Private Advisor Group LLC raised its stake in LyondellBasell Industries by 44.3% in the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock worth $1,019,000 after purchasing an additional 4,442 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in LyondellBasell Industries by 56.7% in the 1st quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 1,091 shares in the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LYB shares. BMO Capital Markets dropped their price objective on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Bank Of America (Bofa) dropped their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Wells Fargo & Company dropped their price objective 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. Royal Bank Of Canada dropped their price objective 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, 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. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, LyondellBasell Industries has an average rating of "Hold" and an average price target of $64.00.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $49.48 on Friday. The firm has a 50 day moving average of $54.98 and a 200-day moving average of $58.81. The stock has a market capitalization of $15.92 billion, a PE ratio of 64.26 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 12 month low of $47.55 and a 12 month high of $97.60.

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). The firm had revenue of $7.66 billion during 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%. LyondellBasell Industries's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 earnings per share. On average, equities research analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. LyondellBasell Industries's payout ratio is 711.69%.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.