LyondellBasell Industries N.V. $LYB Shares Bought by Sound Income Strategies LLC

Key Points

• Sound Income Strategies LLC increased its stake in LyondellBasell Industries by 5.4%, owning 296,640 shares valued at approximately $17.16 million.
• LyondellBasell reported a quarterly EPS of $0.62, falling short of estimates, with revenues of $7.66 billion for the quarter, an 11.8% year-over-year decline.
• The company announced a quarterly dividend of $1.37 per share, resulting in an annualized yield of 11.1% and a high dividend payout ratio of 711.69%.

Sound Income Strategies LLC grew its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 5.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 296,640 shares of the specialty chemicals company's stock after acquiring an additional 15,199 shares during the quarter. Sound Income Strategies LLC owned 0.09% of LyondellBasell Industries worth $17,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rossby Financial LCC purchased a new position in shares of LyondellBasell Industries in the first quarter worth $25,000. JFS Wealth Advisors LLC grew its holdings 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 valued at $28,000 after buying an additional 310 shares during the last quarter. Investment Management Corp VA ADV increased its position in shares of 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 acquiring an additional 261 shares during the period. Brown Lisle Cummings Inc. raised its stake 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 worth $35,000 after acquiring an additional 213 shares during the last quarter. Finally, TruNorth Capital Management LLC acquired a new stake in LyondellBasell Industries during the 1st quarter worth about $42,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Up 1.0%

LYB opened at $49.48 on Monday. The company has a fifty day moving average of $54.98 and a two-hundred day moving average of $58.71. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 64.26 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. 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 posted 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 business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $2.24 earnings per share. On average, research analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm 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. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is presently 711.69%.

Wall Street Analyst Weigh In

LYB has been the topic of a number of research reports. Rothschild & Co Redburn cut their price objective on LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, September 12th. UBS Group cut their price target 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. Royal Bank Of Canada decreased their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Bank Of America (Bofa) dropped their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Finally, Evercore ISI reduced their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a report on Tuesday, September 23rd. 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 given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $64.00.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction 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 sale, the chief executive officer owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company 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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