LyondellBasell Industries N.V. $LYB Shares Acquired by TD Asset Management Inc

Key Points

• TD Asset Management Inc increased its position in LyondellBasell Industries by 4.9%, owning approximately 0.08% of the company after acquiring additional shares during the 2nd quarter.
• LyondellBasell Industries reported $0.62 EPS for the last quarter, missing estimates, while its revenue decreased by 11.8% year-over-year.
• The company recently declared a quarterly dividend of $1.37 per share, yielding 11.9% with a payout ratio of 711.69%.

TD Asset Management Inc boosted its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 253,666 shares of the specialty chemicals company's stock after purchasing an additional 11,948 shares during the quarter. TD Asset Management Inc owned about 0.08% of LyondellBasell Industries worth $14,677,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC bought a new stake in LyondellBasell Industries in the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC lifted its position in 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 last quarter. Investment Management Corp VA ADV lifted its position in LyondellBasell Industries by 177.6% in 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 during the last quarter. Hilltop National Bank bought a new stake in LyondellBasell Industries in the 2nd quarter valued at about $29,000. Finally, Brown Lisle Cummings Inc. lifted its position in LyondellBasell Industries by 55.2% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company's stock valued at $35,000 after purchasing an additional 213 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LYB shares. BMO Capital Markets cut their price objective on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Zacks Research raised shares of LyondellBasell Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, October 3rd. Wells Fargo & Company lowered their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Mizuho lowered their target price on shares of LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Finally, Evercore ISI lowered their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $58.56.

LyondellBasell Industries Stock Performance

Shares of LYB opened at $46.17 on Friday. The firm's 50 day moving average is $51.95 and its 200-day moving average is $56.28. The stock has a market capitalization of $14.85 billion, a P/E ratio of 59.97 and a beta of 0.87. 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 12-month low of $44.89 and a 12-month high of $92.14.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business'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 research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.9%. 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 that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is 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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