Fifth Third Bancorp Has $1.81 Million Stock Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• Fifth Third Bancorp increased its stake in LyondellBasell Industries by 29.2%, now owning 31,193 shares valued at $1.81 million as of its latest SEC filing.
• Analysts have downgraded LyondellBasell's price targets, with Royal Bank of Canada setting a new target at $54.00 while Wells Fargo adjusted theirs to $65.00, maintaining a range of ratings from Strong Buy to Sell.
• LyondellBasell reported $0.62 EPS for the last quarter, missing estimates and experiencing an 11.8% decline in year-over-year revenue.

Fifth Third Bancorp boosted its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 29.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 31,193 shares of the specialty chemicals company's stock after buying an additional 7,059 shares during the period. Fifth Third Bancorp's holdings in LyondellBasell Industries were worth $1,805,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Rossby Financial LCC acquired a new stake in LyondellBasell Industries during the 1st quarter worth approximately $25,000. JFS Wealth Advisors LLC increased its position in LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 310 shares during the period. Investment Management Corp VA ADV increased its position in LyondellBasell Industries by 177.6% during the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock worth $29,000 after buying an additional 261 shares during the period. TruNorth Capital Management LLC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth $42,000. Finally, VSM Wealth Advisory LLC boosted its position in shares of LyondellBasell Industries by 200.0% in the first quarter. VSM Wealth Advisory LLC now owns 600 shares of the specialty chemicals company's stock valued at $42,000 after acquiring an additional 400 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. 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. Wells Fargo & Company dropped their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Evercore ISI reduced their price target on LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 23rd. 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 note on Thursday, August 7th. Finally, Mizuho upped their target price on LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, LyondellBasell Industries has a consensus rating of "Hold" and a consensus target price of $64.00.

LyondellBasell Industries Stock Up 1.0%

NYSE LYB opened at $49.48 on Friday. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $97.60. The business has a fifty day moving average price of $54.98 and a two-hundred day moving average price of $58.81. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market capitalization of $15.92 billion, a PE ratio of 64.26 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.LyondellBasell Industries's quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm posted $2.24 EPS. 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 business also recently declared 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 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 711.69%.

Insider Activity

In related 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 shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.14% of the company's stock.

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.

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