LyondellBasell Industries N.V. $LYB Shares Bought by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in LyondellBasell Industries by 44.9%, owning 351,600 shares worth approximately $24.75 million after acquiring an additional 108,900 shares.
• CEO Peter Z. E. Vanacker sold 20,000 shares of the company's stock, resulting in an 11.09% decrease in his ownership, with the sale valued at over $1 million.
• LyondellBasell reported a net margin of only 0.74% for the most recent quarter, missing earnings per share estimates by $0.25 amidst an annual revenue decline of 11.8%.

Adage Capital Partners GP L.L.C. lifted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 44.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 351,600 shares of the specialty chemicals company's stock after purchasing an additional 108,900 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.11% of LyondellBasell Industries worth $24,753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rossby Financial LCC purchased a new stake in LyondellBasell Industries in the first quarter valued at $25,000. JFS Wealth Advisors LLC lifted its position in LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after acquiring an additional 310 shares during the last quarter. Investment Management Corp VA ADV lifted its position in LyondellBasell Industries by 177.6% in the first 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 last quarter. Lazard Asset Management LLC lifted its position in LyondellBasell Industries by 84.9% in the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after acquiring an additional 214 shares during the last quarter. Finally, TruNorth Capital Management LLC purchased a new stake in LyondellBasell Industries in the first quarter valued at $42,000. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock traded up $0.02 on Wednesday, reaching $54.41. 545,368 shares of the stock were exchanged, compared to its average volume of 3,906,055. LyondellBasell Industries N.V. has a 1-year low of $47.55 and a 1-year high of $97.60. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The business has a fifty day moving average price of $57.79 and a two-hundred day moving average price of $60.91. The firm has a market capitalization of $17.50 billion, a PE ratio of 70.80 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly 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). 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 firm earned $2.24 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 10.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's payout ratio is 711.69%.

Insider Activity

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 transaction, the chief executive officer directly owned 160,351 shares in the company, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LYB. Bank Of America (Bofa) reduced their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Wells Fargo & Company reduced their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. JPMorgan Chase & Co. dropped their price objective on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Citigroup dropped their price objective on shares of LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. Finally, Royal Bank Of Canada dropped 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 research note on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, LyondellBasell Industries has an average rating of "Hold" and a consensus target price of $63.08.

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.