LSV Asset Management Reduces Holdings in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• LSV Asset Management has decreased its stake in LyondellBasell Industries by 15.2%, now holding 883,959 shares worth approximately $62.2 million.
• Despite missing earnings expectations for the quarter, LyondellBasell announced a quarterly dividend increase to $1.37, reflecting an annualized yield of 10.3%.
• Analysts' ratings for LyondellBasell are mixed, with three categorizing it as a sell and a consensus price target set at $66.00.

LSV Asset Management decreased its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 15.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 883,959 shares of the specialty chemicals company's stock after selling 158,600 shares during the quarter. LSV Asset Management owned 0.28% of LyondellBasell Industries worth $62,231,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp raised its holdings in 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 purchasing an additional 209 shares during the period. KLP Kapitalforvaltning AS raised its holdings in LyondellBasell Industries by 166.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after purchasing an additional 148,500 shares during the period. Private Advisor Group LLC raised its holdings in LyondellBasell Industries by 44.3% in the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock worth $1,019,000 after purchasing an additional 4,442 shares during the period. GAMMA Investing LLC raised its holdings in LyondellBasell Industries by 56.7% in the 1st quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 1,091 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in LyondellBasell Industries by 28.3% in the 1st quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock worth $642,000 after purchasing an additional 2,021 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Stock Up 0.5%

LyondellBasell Industries stock traded up $0.25 during midday trading on Tuesday, reaching $51.15. The company's stock had a trading volume of 1,176,884 shares, compared to its average volume of 3,809,353. LyondellBasell Industries N.V. has a fifty-two week low of $50.77 and a fifty-two week high of $99.36. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The company has a market cap of $16.44 billion, a P/E ratio of 66.45, a P/E/G ratio of 3.13 and a beta of 0.85. The business has a 50-day simple moving average of $60.02 and a 200-day simple moving average of $65.01.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates 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 business earned $2.24 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 10.7%. LyondellBasell Industries's dividend payout ratio is presently 711.69%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. The Goldman Sachs Group cut their price objective on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday. Bank Of America (Bofa) dropped their price target on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Citigroup dropped their price target on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday. Finally, Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $63.62.

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.