Hourglass Capital LLC Raises Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• Hourglass Capital LLC increased its holdings in LyondellBasell Industries by 68.9% during Q2, acquiring a total of 184,568 shares, making it their 5th largest investment.
• LyondellBasell announced a quarterly dividend of $1.37 per share, resulting in an annual yield of 11.7%, despite a high dividend payout ratio of 711.69%.
• The company's recent earnings report showed a significant decrease in net margins, reporting earnings of $0.62 per share, which fell short of the expected $0.87 per share.

Hourglass Capital LLC grew its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 68.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 184,568 shares of the specialty chemicals company's stock after buying an additional 75,311 shares during the period. LyondellBasell Industries accounts for about 2.6% of Hourglass Capital LLC's investment portfolio, making the stock its 5th biggest holding. Hourglass Capital LLC owned 0.06% of LyondellBasell Industries worth $10,679,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Crews Bank & Trust lifted its position in shares of LyondellBasell Industries by 16.4% during the 2nd quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company's stock worth $72,000 after purchasing an additional 175 shares during the last quarter. Forza Wealth Management LLC lifted its position in shares of LyondellBasell Industries by 1.6% during the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock worth $894,000 after purchasing an additional 200 shares during the last quarter. Central Pacific Bank Trust Division lifted its position in shares of LyondellBasell Industries by 4.3% during the 2nd quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company's stock worth $279,000 after purchasing an additional 200 shares during the last quarter. TCW Group Inc. lifted its position in shares of LyondellBasell Industries by 1.1% during the 1st quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock worth $1,297,000 after purchasing an additional 202 shares during the last quarter. Finally, Horizon Investments LLC raised its position in shares of LyondellBasell Industries by 2.5% during the first quarter. Horizon Investments LLC now owns 8,297 shares of the specialty chemicals company's stock valued at $584,000 after buying an additional 202 shares during the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

LYB opened at $46.76 on Thursday. The company's 50 day simple moving average is $52.09 and its 200-day simple moving average is $56.72. LyondellBasell Industries N.V. has a one year low of $44.89 and a one year high of $93.03. The stock has a market capitalization of $15.04 billion, a P/E ratio of 60.73 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the company earned $2.24 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a $1.37 dividend. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a yield of 11.7%. LyondellBasell Industries's dividend payout ratio (DPR) is 711.69%.

Insiders Place Their Bets

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on LYB. BMO Capital Markets cut 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 report on Wednesday, August 6th. Zacks Research raised shares of LyondellBasell Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, October 3rd. UBS Group cut their price objective on shares of LyondellBasell Industries from $44.00 to $43.00 and set a "sell" rating for the company in a research report on Monday, October 6th. Mizuho lowered their target price on shares of LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Finally, Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $59.44.

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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