Invenomic Capital Management LP Invests $5.56 Million in LyondellBasell Industries N.V. $LYB

Key Points

• Invenomic Capital Management LP has successfully acquired a new stake in LyondellBasell Industries N.V., purchasing 78,909 shares valued at approximately $5,555,000.
• Multiple institutional investors have increased their stakes in LyondellBasell, with Gotham Asset Management raising its holdings by 78.8% in the same quarter.
• LyondellBasell's stock has received a consensus rating of "Hold" from analysts, with a current price target averaging $63.08.

Invenomic Capital Management LP bought a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 78,909 shares of the specialty chemicals company's stock, valued at approximately $5,555,000.

A number of other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock worth $650,465,000 after acquiring an additional 657,443 shares during the period. Invesco Ltd. increased its position in shares of LyondellBasell Industries by 10.4% during the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock worth $452,852,000 after acquiring an additional 606,234 shares during the period. Federated Hermes Inc. increased its position in shares of LyondellBasell Industries by 12.7% during the first quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company's stock worth $333,994,000 after acquiring an additional 534,456 shares during the period. JPMorgan Chase & Co. increased its position in shares of LyondellBasell Industries by 12.8% during the first quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company's stock worth $316,113,000 after acquiring an additional 509,996 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of LyondellBasell Industries by 15.7% during the first quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company's stock worth $289,014,000 after acquiring an additional 557,397 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction 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 sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

LyondellBasell Industries Stock Up 0.7%

LYB traded up $0.36 during trading on Thursday, hitting $54.76. The stock had a trading volume of 2,188,290 shares, compared to its average volume of 3,912,867. The company has a market capitalization of $17.61 billion, a PE ratio of 71.09 and a beta of 0.85. LyondellBasell Industries N.V. has a twelve month low of $47.55 and a twelve month high of $97.60. 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 stock has a 50 day simple moving average of $57.63 and a two-hundred day simple moving average of $60.87.

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 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%. LyondellBasell Industries's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $2.24 earnings per share. On average, research analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current 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 dividend of $1.37 per share. 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 payout ratio is presently 711.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group reduced their target price on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. BMO Capital Markets cut their price objective 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. 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 on the stock in a report on Tuesday, August 5th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Mizuho lifted their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, LyondellBasell Industries presently 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.