Ieq Capital LLC Acquires 26,014 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Ieq Capital LLC significantly increased its holdings in LyondellBasell Industries by 124.3% in Q1, acquiring a total of 46,939 shares valued at approximately $3.3 million.
• LyondellBasell reported an EPS of $0.62 for the last quarter, missing estimates by $0.25, and reported a revenue of $7.66 billion, down 11.8% year-over-year.
• The company announced a quarterly dividend of $1.37, which amounts to an annual yield of 9.7%, with a notably high dividend payout ratio of 711.69%.

Ieq Capital LLC grew its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 124.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,939 shares of the specialty chemicals company's stock after purchasing an additional 26,014 shares during the quarter. Ieq Capital LLC's holdings in LyondellBasell Industries were worth $3,305,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of LYB. Rossby Financial LCC bought a new stake in LyondellBasell Industries during the first quarter valued at $25,000. JFS Wealth Advisors LLC lifted its stake in shares of LyondellBasell Industries by 352.3% in the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after purchasing an additional 310 shares during the period. Investment Management Corp VA ADV boosted its position in shares of LyondellBasell Industries by 177.6% during the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after purchasing an additional 261 shares in the last quarter. Lazard Asset Management LLC grew its stake in LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after purchasing an additional 214 shares during the period. Finally, TruNorth Capital Management LLC bought a new stake in LyondellBasell Industries in the first quarter worth approximately $42,000. Institutional investors own 71.20% of the company's stock.

Insider Buying and Selling at LyondellBasell Industries

In related 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 transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on LYB shares. JPMorgan Chase & Co. reduced 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. Citigroup cut their target price on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Royal Bank Of Canada reduced their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. UBS Group dropped their price objective on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a report on Thursday, August 7th. Finally, Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $63.08.

LyondellBasell Industries Stock Up 0.5%

LYB stock traded up $0.26 during mid-day trading on Thursday, reaching $54.45. 2,673,490 shares of the company traded hands, compared to its average volume of 3,915,293. 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 firm's 50 day moving average price is $58.15 and its 200 day moving average price is $61.66. The stock has a market cap of $17.52 billion, a price-to-earnings ratio of 70.72 and a beta of 0.85. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $97.60.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its 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 company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the business earned $2.24 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities research analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a $1.37 dividend. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 10.1%. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

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.