LyondellBasell Industries N.V. $LYB Shares Purchased by Sonora Investment Management Group LLC

Key Points

• Sonora Investment Management Group LLC increased its holdings in LyondellBasell Industries by 9.9% in Q2, owning 159,641 shares valued at approximately $9.24 million.
• LyondellBasell reported Q2 earnings of $0.62 per share, missing estimates by $0.25, while revenue decreased 11.8% year-over-year to $7.66 billion.
• The company declared a quarterly dividend of $1.37 per share, which translates to an annualized yield of 11.1% despite a high dividend payout ratio of 711.69%.

Sonora Investment Management Group LLC increased its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 159,641 shares of the specialty chemicals company's stock after purchasing an additional 14,339 shares during the quarter. Sonora Investment Management Group LLC's holdings in LyondellBasell Industries were worth $9,237,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LYB. NewSquare Capital LLC increased its position in LyondellBasell Industries by 0.3% during the first quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock worth $4,932,000 after purchasing an additional 193 shares during the last quarter. Forza Wealth Management LLC raised its stake in shares of LyondellBasell Industries by 1.6% in the 1st 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 period. Central Pacific Bank Trust Division raised its stake in shares of LyondellBasell Industries by 4.3% in the 2nd 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 period. TCW Group Inc. raised its stake in shares of LyondellBasell Industries by 1.1% in the 1st 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 period. Finally, Horizon Investments LLC raised its stake in shares of LyondellBasell Industries by 2.5% in the 1st 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 period. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Trading Up 1.0%

NYSE LYB opened at $49.48 on Friday. LyondellBasell Industries N.V. has a 12 month low of $47.55 and a 12 month high of $97.60. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of 64.26 and a beta of 0.85. The company's fifty day moving average price is $54.98 and its two-hundred day moving average price is $58.81.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data 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 net margin of 0.74% and a return on equity of 9.35%. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the company 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 predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is 711.69%.

Insider Buying and Selling

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction on 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. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LYB. JPMorgan Chase & Co. cut their target price 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. Evercore ISI cut 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. Citigroup cut their target price 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. Rothschild & Co Redburn lowered their price target on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating for the company in a report on Friday, September 12th. Finally, Royal Bank Of Canada lowered their price target on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, LyondellBasell Industries has an average rating of "Hold" and a consensus target price of $64.00.

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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