Janney Montgomery Scott LLC Has $6.67 Million Stock Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• Janney Montgomery Scott LLC increased its holdings in LyondellBasell Industries by 77.7%, owning 115,225 shares valued at approximately $6.67 million as of their latest SEC filing.
• Several hedge funds have also increased their stakes, with Charles Schwab Investment Management owning 9.24 million shares worth around $650 million, while institutional investors collectively hold 71.20% of the company's stock.
• LyondellBasell announced a dividend of $1.37 per share, reflecting an annualized dividend yield of 11.1%, despite a significant payout ratio of 711.69%.

Janney Montgomery Scott LLC lifted its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 77.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,225 shares of the specialty chemicals company's stock after purchasing an additional 50,383 shares during the period. Janney Montgomery Scott LLC's holdings in LyondellBasell Industries were worth $6,667,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its holdings 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 purchasing an additional 657,443 shares during the period. Invesco Ltd. lifted its holdings 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 purchasing an additional 606,234 shares during the period. Federated Hermes Inc. lifted its holdings 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 purchasing an additional 534,456 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 509,996 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings 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 purchasing an additional 557,397 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction dated 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 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 SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating on the stock in a report on Wednesday, October 1st. Bank Of America (Bofa) dropped their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Finally, Citigroup dropped their target price on shares of LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $60.13.

LyondellBasell Industries Trading Up 0.3%

NYSE:LYB opened at $49.49 on Monday. 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 firm has a 50-day moving average of $53.48 and a 200-day moving average of $57.83. The company has a market cap of $15.92 billion, a PE ratio of 64.28 and a beta of 0.87. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $96.81.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its earnings results 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 business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.24 earnings per share. As a group, equities research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. LyondellBasell Industries's payout ratio 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.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries N.V. (NYSE:LYB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.