Gilman Hill Asset Management LLC Purchases Shares of 167,358 LyondellBasell Industries N.V. $LYB

Key Points

• Gilman Hill Asset Management LLC has made a new investment in LyondellBasell Industries N.V., purchasing 167,358 shares valued at approximately $9.7 million, making it the fund's 14th largest holding.
• CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell stock, reducing his ownership by 11.09%, and the company has seen a consensus rating of "Hold" among analysts with a target price around $63.08.
• LyondellBasell recently declared a quarterly dividend of $1.37, representing a significant annualized yield of 10.4%, despite a high payout ratio of over 711%.

Gilman Hill Asset Management LLC acquired a new position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 167,358 shares of the specialty chemicals company's stock, valued at approximately $9,683,000. LyondellBasell Industries comprises about 1.6% of Gilman Hill Asset Management LLC's holdings, making the stock its 14th biggest holding. Gilman Hill Asset Management LLC owned 0.05% of LyondellBasell Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYB. Rossby Financial LCC purchased a new position in shares of LyondellBasell Industries in the first quarter worth approximately $25,000. JFS Wealth Advisors LLC boosted its holdings in shares of LyondellBasell Industries by 352.3% in the first 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 last quarter. Investment Management Corp VA ADV boosted its holdings in shares of LyondellBasell Industries by 177.6% in the first 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 last quarter. Lazard Asset Management LLC boosted its holdings in shares of LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after buying an additional 214 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in LyondellBasell Industries in the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 71.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. UBS Group reduced their target price on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating for the company in a report on Thursday, August 7th. Bank Of America (Bofa) reduced their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. JPMorgan Chase & Co. cut their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a report on Monday, August 4th. Finally, Royal Bank Of Canada cut 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 report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned 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, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $63.93.

LyondellBasell Industries Price Performance

Shares of LYB stock traded down $0.65 during trading hours on Friday, hitting $52.04. 7,828,913 shares of the company's stock were exchanged, compared to its average volume of 4,435,810. The firm has a 50 day moving average of $56.24 and a two-hundred day moving average of $59.67. 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 firm has a market cap of $16.74 billion, a P/E ratio of 67.59 and a beta of 0.85.

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 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%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.24 earnings per share. Sell-side analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.5%. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction on Friday, August 15th. The stock was 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 approximately $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 can be accessed through this hyperlink. Corporate 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.