Martingale Asset Management L P Has $2.45 Million Stock Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• Martingale Asset Management L P has decreased its holdings in LyondellBasell Industries by 36.9% during the 1st quarter, selling 20,353 shares and now owning 34,841 shares valued at approximately $2.45 million.
• LyondellBasell's stock price increased by 5.9%, with a current market cap of $18.89 billion, despite reporting a quarterly earnings miss of $0.62 per share against analysts' expectations of $0.87.
• The company announced a quarterly dividend of $1.37 per share, resulting in an annualized dividend yield of 9.3%, though this comes with a high payout ratio of 711.69%.

Martingale Asset Management L P reduced its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 36.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,841 shares of the specialty chemicals company's stock after selling 20,353 shares during the period. Martingale Asset Management L P's holdings in LyondellBasell Industries were worth $2,453,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LYB. Bank Pictet & Cie Europe AG grew its holdings in LyondellBasell Industries by 26.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock worth $14,013,000 after acquiring an additional 39,957 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in LyondellBasell Industries by 29.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,869 shares of the specialty chemicals company's stock worth $213,000 after acquiring an additional 648 shares in the last quarter. Hsbc Holdings PLC grew its holdings in LyondellBasell Industries by 126.7% during the 4th quarter. Hsbc Holdings PLC now owns 291,384 shares of the specialty chemicals company's stock worth $21,486,000 after acquiring an additional 162,841 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of LyondellBasell Industries by 1.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 366,472 shares of the specialty chemicals company's stock worth $27,218,000 after purchasing an additional 6,945 shares during the period. Finally, MGO One Seven LLC raised its holdings in shares of LyondellBasell Industries by 27.1% during the fourth quarter. MGO One Seven LLC now owns 5,306 shares of the specialty chemicals company's stock worth $394,000 after purchasing an additional 1,132 shares during the period. 71.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LYB has been the subject of several research reports. BMO Capital Markets decreased their price target on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating for the company in a report on Wednesday, August 6th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Bank Of America (Bofa) decreased their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Barclays decreased their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Finally, Piper Sandler decreased their price target 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 assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock traded down $0.22 during midday trading on Wednesday, reaching $56.39. 3,177,316 shares of the stock traded hands, compared to its average volume of 3,915,667. The firm has a market cap of $18.14 billion, a price-to-earnings ratio of 73.23 and a beta of 0.85. 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 firm has a fifty day moving average price of $58.43 and a two-hundred day moving average price of $62.41. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $99.02.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $7.58 billion. During the same period in the previous year, the business posted $2.24 EPS. The firm's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 9.7%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's dividend payout ratio is currently 711.69%.

Insider Transactions at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction dated 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 completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.