LyondellBasell Industries N.V. $LYB Shares Bought by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in LyondellBasell Industries N.V. by 4.6%, owning 160,085 shares worth approximately $9.3 million as of the end of the second quarter.
• Multiple research firms have lowered their price targets for LyondellBasell Industries, with Deutsche Bank setting a target of $53 and Citigroup setting $49, indicating a cautious outlook on the stock.
• The company recently declared a quarterly dividend of $1.37, resulting in an annualized yield of 11.7%, despite a high dividend payout ratio of 711.69%.

Aberdeen Group plc boosted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 4.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 160,085 shares of the specialty chemicals company's stock after acquiring an additional 7,010 shares during the quarter. Aberdeen Group plc's holdings in LyondellBasell Industries were worth $9,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Crews Bank & Trust grew its position in shares of LyondellBasell Industries by 16.4% in the second quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company's stock valued at $72,000 after purchasing an additional 175 shares in the last quarter. Forza Wealth Management LLC lifted its holdings in LyondellBasell Industries by 1.6% in the first quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock valued at $894,000 after acquiring an additional 200 shares during the last quarter. Central Pacific Bank Trust Division lifted its holdings in LyondellBasell Industries by 4.3% in the second quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company's stock valued at $279,000 after acquiring an additional 200 shares during the last quarter. TCW Group Inc. lifted its holdings in LyondellBasell Industries by 1.1% in the first quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock valued at $1,297,000 after acquiring an additional 202 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in LyondellBasell Industries by 2.5% in the first quarter. Horizon Investments LLC now owns 8,297 shares of the specialty chemicals company's stock valued at $584,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on LYB. Deutsche Bank Aktiengesellschaft decreased their price objective on LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating on the stock in a report on Wednesday, October 1st. Citigroup decreased their price objective on LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday, October 2nd. Wells Fargo & Company decreased their price objective on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Evercore ISI decreased their price objective on LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating on the stock in a report on Tuesday, September 23rd. Finally, Mizuho decreased their price objective on LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $59.44.

LyondellBasell Industries Stock Up 0.2%

NYSE:LYB opened at $46.76 on Thursday. 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 stock's fifty day moving average is $52.09 and its two-hundred day moving average is $56.72. LyondellBasell Industries N.V. has a 52 week low of $44.89 and a 52 week high of $93.03. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 60.73 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly 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). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the company earned $2.24 earnings per share. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business 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. This represents a $5.48 annualized dividend and a dividend yield of 11.7%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is presently 711.69%.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total value of $1,071,400.00. Following the sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

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.

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