Busey Bank Decreases Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Busey Bank reduced its holdings in LyondellBasell Industries by 92.7%, owning only 4,958 shares after selling a significant portion during the 2nd quarter.
• CEO Peter Z. E. Vanacker sold 20,000 shares recently for $1,071,400, reducing his ownership by 11.09%.
• LyondellBasell's quarterly earnings report indicated an EPS of $0.62, which missed analysts' expectations of $0.87, highlighting a revenue decline of 11.8% year-over-year.

Busey Bank lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 92.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,958 shares of the specialty chemicals company's stock after selling 62,827 shares during the period. Busey Bank's holdings in LyondellBasell Industries were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LYB. Pacer Advisors Inc. increased its stake in shares of LyondellBasell Industries by 3,502.2% during the first quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company's stock worth $141,893,000 after purchasing an additional 1,959,576 shares in the last quarter. HighTower Advisors LLC grew its stake in LyondellBasell Industries by 137.9% during the 1st quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company's stock valued at $123,907,000 after acquiring an additional 1,020,169 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock valued at $650,465,000 after purchasing an additional 657,443 shares during the last quarter. Nuveen LLC acquired a new position in LyondellBasell Industries in the 1st quarter valued at about $43,280,000. Finally, Invesco Ltd. boosted its holdings in LyondellBasell Industries by 10.4% in the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock valued at $452,852,000 after purchasing an additional 606,234 shares during the last quarter. Hedge funds and other institutional investors own 71.20% of the company's stock.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries 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 transaction, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company's stock.

LyondellBasell Industries Price Performance

LYB stock traded down $0.16 during trading on Tuesday, reaching $50.94. 2,329,617 shares of the company were exchanged, compared to its average volume of 4,005,991. The company has a market cap of $16.38 billion, a P/E ratio of 66.11 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 stock's 50 day moving average price is $56.00 and its 200 day moving average price is $59.37. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77.

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 analysts' consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.24 EPS. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were given a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a yield of 10.8%. LyondellBasell Industries's payout ratio is presently 711.69%.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research analyst reports. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. BMO Capital Markets lowered their price objective 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. Citigroup lowered their price objective on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. lowered their price objective 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. Finally, Rothschild & Co Redburn lowered their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, LyondellBasell Industries has a consensus rating of "Hold" and a consensus target price of $64.00.

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.