Fulton Bank N.A. Sells 9,911 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Fulton Bank N.A. reduced its stake in LyondellBasell Industries by 35.9%, holding 17,666 shares worth $1,022,000 at the end of the second quarter.
• Multiple analysts downgraded their target prices for LyondellBasell Industries, with Wells Fargo lowering it from $75.00 to $65.00 and UBS down to $44.00, while the consensus rating for the stock remains at "Hold."
• LyondellBasell Industries experienced a 1.6% decline in stock price, with earnings of $0.62 per share reported, missing expectations and reflecting an 11.8% decrease in quarterly revenue compared to the previous year.

Fulton Bank N.A. decreased its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 35.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,666 shares of the specialty chemicals company's stock after selling 9,911 shares during the quarter. Fulton Bank N.A.'s holdings in LyondellBasell Industries were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allen Mooney & Barnes Investment Advisors LLC raised its stake in shares of LyondellBasell Industries by 69.1% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company's stock worth $14,456,000 after purchasing an additional 102,140 shares during the last quarter. M&T Bank Corp lifted its stake in shares of LyondellBasell Industries by 1.1% in the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock valued at $1,405,000 after purchasing an additional 209 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in 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 acquiring an additional 148,500 shares in the last quarter. Private Advisor Group LLC raised its position in shares of 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 valued at $1,019,000 after purchasing an additional 4,442 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of LyondellBasell Industries by 56.7% in the 1st quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock valued at $212,000 after acquiring an additional 1,091 shares during the last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup cut their price objective on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Royal Bank Of Canada lowered their target price on 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 lowered their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Argus cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, BMO Capital Markets lowered their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $63.93.

Insiders Place Their Bets

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 stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. 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 owned by company insiders.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB traded down $0.82 on Monday, reaching $51.19. 1,562,064 shares of the company's stock were exchanged, compared to its average volume of 3,996,096. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $97.60. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The business's 50-day moving average is $56.24 and its two-hundred day moving average is $59.56. The firm has a market capitalization of $16.46 billion, a price-to-earnings ratio of 66.54 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced 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 company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the firm posted $2.24 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current 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 given a $1.37 dividend. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.7%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 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.