Leo Wealth LLC Acquires New Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• Leo Wealth LLC has acquired 5,981 shares of LyondellBasell Industries N.V. stock, valued at approximately $346,000, as part of its second quarter investment strategy.
• Recent analyst ratings show a shift in sentiment, with multiple price target reductions, including BMO Capital Markets and JPMorgan Chase, reflecting a cautious outlook on the stock.
• LyondellBasell reported earnings of $0.62 per share for the last quarter, missing expectations, while also declaring a $1.37 quarterly dividend, yielding about 12.2%.

Leo Wealth LLC acquired a new stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,981 shares of the specialty chemicals company's stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LYB. UMB Bank n.a. raised its stake in shares of LyondellBasell Industries by 223.3% during the first quarter. UMB Bank n.a. now owns 928 shares of the specialty chemicals company's stock valued at $65,000 after purchasing an additional 641 shares in the last quarter. Farther Finance Advisors LLC grew its holdings 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 worth $642,000 after acquiring an additional 2,021 shares during the period. Pallas Capital Advisors LLC acquired a new position in LyondellBasell Industries during the first quarter worth about $442,000. Yousif Capital Management LLC grew its holdings in LyondellBasell Industries by 0.5% during the first quarter. Yousif Capital Management LLC now owns 49,033 shares of the specialty chemicals company's stock worth $3,452,000 after acquiring an additional 247 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in LyondellBasell Industries during the first quarter worth about $442,000. 71.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LYB shares. BMO Capital Markets lowered their target price on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Wednesday, August 6th. JPMorgan Chase & Co. lowered their target price on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Bank Of America (Bofa) lowered their target price on LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of LyondellBasell Industries in a report on Wednesday. Finally, UBS Group dropped their price target on LyondellBasell Industries from $44.00 to $43.00 and set a "sell" rating on the stock in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $60.07.

LyondellBasell Industries Trading Down 5.7%

NYSE:LYB opened at $44.96 on Friday. 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 N.V. has a fifty-two week low of $44.89 and a fifty-two week high of $95.27. The stock's 50-day moving average is $52.35 and its two-hundred day moving average is $57.21. The stock has a market cap of $14.46 billion, a PE ratio of 58.38 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released 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). 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 for the quarter, compared to analysts' expectations of $7.58 billion. During the same period last year, the firm earned $2.24 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast 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 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. This represents a $5.48 annualized dividend and a dividend yield of 12.2%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction dated 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 sale, the chief executive officer directly owned 160,351 shares in the company, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

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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