LyondellBasell Industries N.V. $LYB Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in LyondellBasell Industries N.V. by 49.5%, now holding 147,246 shares valued at approximately $10.37 million.
• CEO Peter Z. E. Vanacker sold 20,000 shares at an average price of $53.57, marking an 11.09% decrease in his ownership.
• LyondellBasell Industries reported a net margin of 0.74% and missed earnings expectations for the last quarter, posting $0.62 EPS against a consensus estimate of $0.87.

Hsbc Holdings PLC cut its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 49.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,246 shares of the specialty chemicals company's stock after selling 144,138 shares during the period. Hsbc Holdings PLC's holdings in LyondellBasell Industries were worth $10,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Vident Advisory LLC boosted its stake in LyondellBasell Industries by 0.8% during the 4th quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock worth $1,197,000 after purchasing an additional 131 shares during the last quarter. NewSquare Capital LLC lifted its stake in shares of LyondellBasell Industries by 0.3% in the first quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock worth $4,932,000 after buying an additional 193 shares in the last quarter. Forza Wealth Management LLC boosted its position in LyondellBasell Industries by 1.6% during the first quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock worth $894,000 after acquiring an additional 200 shares during the last quarter. TCW Group Inc. grew its stake in LyondellBasell Industries by 1.1% during 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 in the last quarter. Finally, Horizon Investments LLC raised its holdings in 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 last quarter. 71.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction that occurred 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 owned 160,351 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.14% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $58.7160 on Monday. The firm has a market cap of $18.89 billion, a PE ratio of 76.26 and a beta of 0.85. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $99.36. The business's fifty day simple moving average is $58.57 and its 200-day simple moving average is $62.58.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). The company had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.24 earnings per share. Equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 9.3%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 711.69%.

Wall Street Analysts Forecast Growth

LYB has been the topic of several recent research reports. Wall Street Zen cut LyondellBasell Industries from a "hold" rating to a "sell" rating in a report on Monday, April 28th. BMO Capital Markets lowered their price objective on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. The Goldman Sachs Group cut their target price on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Finally, Piper Sandler dropped their price objective on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and an average price target 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.

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