LyondellBasell Industries N.V. $LYB Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its stake in LyondellBasell Industries by 21.8% in Q2, acquiring a total of 289,631 shares valued at approximately $16.76 million.
• LyondellBasell announced a recent quarterly dividend of $1.37 per share, corresponding to an annualized dividend of $5.48 and a dividend yield of 11.2%.
• Analysts have varied outlooks on LyondellBasell, with target price adjustments ranging from $49 to $80, resulting in a consensus "Hold" rating and an average target price of $60.07.

KLP Kapitalforvaltning AS lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 21.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 289,631 shares of the specialty chemicals company's stock after buying an additional 51,800 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.09% of LyondellBasell Industries worth $16,758,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of LyondellBasell Industries during the first quarter worth $25,000. JFS Wealth Advisors LLC lifted its stake in shares of LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after buying an additional 310 shares during the period. Investment Management Corp VA ADV lifted its position in LyondellBasell Industries by 177.6% during the first 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 during the period. Hilltop National Bank acquired a new position in LyondellBasell Industries during the second quarter valued at $29,000. Finally, TruNorth Capital Management LLC acquired a new position in LyondellBasell Industries during the first quarter valued at $42,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LyondellBasell Industries

In other 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 completion of the sale, the chief executive officer owned 160,351 shares of the company's stock, valued at $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 is available at this link. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. Rothschild & Co Redburn decreased their target price 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. Zacks Research upgraded shares of LyondellBasell Industries from a "strong sell" rating to a "hold" rating in a research report on Friday, October 3rd. Bank Of America (Bofa) decreased their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Finally, Citigroup decreased their target price on shares of LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, October 2nd. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $60.07.

LyondellBasell Industries Stock Down 0.8%

LYB stock opened at $48.74 on Thursday. The stock has a market capitalization of $15.68 billion, a P/E ratio of 63.30 and a beta of 0.87. The firm has a 50-day simple moving average of $52.72 and a 200-day simple moving average of $57.55. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $95.27.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results 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 revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.24 EPS. Equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.2%. LyondellBasell Industries's payout ratio is currently 711.69%.

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.

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