Evergreen Capital Management LLC Raises Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Evergreen Capital Management LLC significantly increased its holdings in LyondellBasell Industries by 1,168.5%, owning 182,507 shares worth approximately $12.8 million as of its latest filing with the SEC.
• The company declared a quarterly dividend of $1.37 per share, offering a dividend yield of 9.8%, with a payout ratio of 711.69%.
• LyondellBasell reported a miss in earnings per share for the last quarter, at $0.62 versus a consensus of $0.87, alongside an 11.8% decrease in revenue year-over-year.

Evergreen Capital Management LLC increased its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 1,168.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,507 shares of the specialty chemicals company's stock after buying an additional 168,119 shares during the period. Evergreen Capital Management LLC owned 0.06% of LyondellBasell Industries worth $12,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYB. Bank Pictet & Cie Europe AG grew its stake in shares of LyondellBasell Industries by 26.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock worth $14,013,000 after buying an additional 39,957 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of LyondellBasell Industries by 1.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 366,472 shares of the specialty chemicals company's stock worth $27,218,000 after buying an additional 6,945 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of LyondellBasell Industries in the 4th quarter worth approximately $251,000. Coldstream Capital Management Inc. grew its stake in shares of LyondellBasell Industries by 10.7% in the 4th quarter. Coldstream Capital Management Inc. now owns 5,636 shares of the specialty chemicals company's stock worth $419,000 after buying an additional 544 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of LyondellBasell Industries by 10.0% in the 4th quarter. Northern Trust Corp now owns 2,726,246 shares of the specialty chemicals company's stock worth $202,478,000 after buying an additional 247,336 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company's stock in a transaction 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 sale, the chief executive officer directly 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 document filed with the SEC, which is available at this link. 0.14% of the stock is owned by company insiders.

LyondellBasell Industries Stock Performance

Shares of NYSE LYB traded down $1.13 during midday trading on Wednesday, hitting $54.71. 1,810,763 shares of the stock traded hands, compared to its average volume of 3,907,357. 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 firm has a market capitalization of $17.60 billion, a P/E ratio of 71.01 and a beta of 0.85. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $97.60. The firm has a 50-day moving average of $58.22 and a two-hundred day moving average of $61.71.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $2.24 earnings per share. On average, equities analysts forecast 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 was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 10.0%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is 711.69%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets lowered their price objective on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Argus cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. UBS Group lowered their price objective on LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Mizuho upped their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada lowered their price objective on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.