LyondellBasell Industries N.V. $LYB Shares Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC significantly increased its holdings in LyondellBasell Industries by 506.6% during the 2nd quarter, owning 22,030 shares valued at approximately $1.275 million.
• LyondellBasell Industries reported an earnings per share (EPS) of $0.62 for the last quarter, missing estimates by $0.25, and had a net margin of just 0.74%.
• The company recently announced a quarterly dividend of $1.37 per share, yielding 11.1%, although its dividend payout ratio is notably high at 711.69%.

SteelPeak Wealth LLC raised its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 506.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,030 shares of the specialty chemicals company's stock after purchasing an additional 18,398 shares during the quarter. SteelPeak Wealth LLC's holdings in LyondellBasell Industries were worth $1,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of LYB. Rossby Financial LCC acquired a new position in LyondellBasell Industries in the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC boosted its holdings 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 boosted its holdings 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 acquired a new position in LyondellBasell Industries in the 2nd quarter valued at about $29,000. Finally, Brown Lisle Cummings Inc. boosted its holdings 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 and hedge funds.

Insider Transactions at LyondellBasell Industries

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the 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 sale, the chief executive officer directly owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $49.19 on Wednesday. The firm has a market cap of $15.82 billion, a PE ratio of 63.88 and a beta of 0.87. LyondellBasell Industries N.V. has a 52-week low of $47.55 and a 52-week high of $95.27. 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 company's 50 day moving average is $52.93 and its two-hundred day moving average is $57.61.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (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 return on equity of 9.35% and a net margin of 0.74%.LyondellBasell Industries's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.24 earnings per share. On average, research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a yield of 11.1%. LyondellBasell Industries's dividend payout ratio is 711.69%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LYB. BMO Capital Markets decreased 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 report on Wednesday, August 6th. Rothschild & Co Redburn decreased their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, September 12th. Zacks Research upgraded shares of LyondellBasell Industries from a "strong sell" rating to a "hold" rating in a report on Friday, October 3rd. Weiss Ratings restated a "sell (d+)" rating on shares of LyondellBasell Industries in a report on Saturday, September 27th. Finally, 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 on the stock in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, LyondellBasell Industries has an average rating of "Hold" and a consensus target price of $60.07.

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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