Kestra Investment Management LLC Increases Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Kestra Investment Management LLC increased its holdings in LyondellBasell Industries by 388.9%, acquiring a total of 27,165 shares valued at approximately $1.91 million.
• Several institutional investors, including Pacer Advisors Inc. and HighTower Advisors LLC, significantly boosted their stakes in LyondellBasell during the first quarter, contributing to a total of 71.20% institutional ownership of the company’s stock.
• LyondellBasell reported a net margin of 0.74% and a quarterly earnings per share (EPS) of $0.62, which fell short of analysts' expectations of $0.87.

Kestra Investment Management LLC grew its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 388.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,165 shares of the specialty chemicals company's stock after purchasing an additional 21,609 shares during the quarter. Kestra Investment Management LLC's holdings in LyondellBasell Industries were worth $1,912,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. M&T Bank Corp grew its position 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 worth $1,405,000 after buying an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock valued at $16,743,000 after acquiring an additional 148,500 shares during the last quarter. Private Advisor Group LLC lifted its position in LyondellBasell Industries by 44.3% during the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after acquiring an additional 4,442 shares during the last quarter. GAMMA Investing LLC lifted its position in LyondellBasell Industries by 56.7% during the first 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. Finally, Farther Finance Advisors LLC lifted its position in LyondellBasell Industries by 28.3% during the first quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock valued at $642,000 after acquiring an additional 2,021 shares during the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

NYSE:LYB traded down $0.01 during trading hours on Friday, hitting $55.47. 2,035,285 shares of the company were exchanged, compared to its average volume of 3,927,107. The stock has a market capitalization of $17.84 billion, a price-to-earnings ratio of 71.93 and a beta of 0.85. LyondellBasell Industries N.V. has a 52-week low of $47.55 and a 52-week high of $97.60. 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 company's 50 day moving average price is $57.50 and its 200-day moving average price is $60.72.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released 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). 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 analysts' expectations of $7.58 billion. During the same period last year, the company earned $2.24 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. As a group, research analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 9.9%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is 711.69%.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's 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 transaction, the chief executive officer owned 160,351 shares of the company's stock, valued at $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LYB has been the subject of a number of analyst reports. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. decreased their target price on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. BMO Capital Markets decreased 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 research report on Wednesday, August 6th. Wells Fargo & Company decreased 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 report on Monday, August 4th. Finally, Royal Bank Of Canada dropped their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $63.08.

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.