LyondellBasell Industries N.V. $LYB Shares Sold by US Bancorp DE

Key Points

• US Bancorp DE reduced its stake in LyondellBasell Industries by 17.4% in the second quarter, now holding 119,439 shares valued at approximately $6.91 million.
• LyondellBasell recently reported a miss on earnings expectations, with EPS of $0.62, falling short of the $0.87 analysts had anticipated.
• The company announced a quarterly dividend of $1.37 per share, translating to an annual yield of 12.2%, with a dividend payout ratio of 711.69%.

US Bancorp DE decreased its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 17.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,439 shares of the specialty chemicals company's stock after selling 25,106 shares during the quarter. US Bancorp DE's holdings in LyondellBasell Industries were worth $6,911,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allen Mooney & Barnes Investment Advisors LLC grew its position in shares of LyondellBasell Industries by 69.1% in the 2nd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company's stock worth $14,456,000 after acquiring an additional 102,140 shares in the last quarter. M&T Bank Corp grew its position in shares of LyondellBasell Industries by 1.1% in the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after acquiring an additional 209 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in LyondellBasell Industries by 166.2% during the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock valued at $16,743,000 after purchasing an additional 148,500 shares during the period. Private Advisor Group LLC boosted its position in LyondellBasell Industries by 44.3% during the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after purchasing an additional 4,442 shares during the period. Finally, NewEdge Advisors LLC boosted its position in LyondellBasell Industries by 103.2% during the 1st quarter. NewEdge Advisors LLC now owns 44,265 shares of the specialty chemicals company's stock valued at $3,116,000 after purchasing an additional 22,486 shares during the period. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Trading Down 5.7%

Shares of LYB stock opened at $44.96 on Monday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. LyondellBasell Industries N.V. has a 1 year low of $44.89 and a 1 year high of $95.27. The stock has a fifty day moving average of $52.35 and a two-hundred day moving average of $57.02. The firm has a market capitalization of $14.46 billion, a PE ratio of 58.38 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced 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 business 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 posted $2.24 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a $1.37 dividend. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 12.2%. LyondellBasell Industries's dividend payout ratio is 711.69%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LYB. Mizuho reduced their price objective on LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating for the company in a research report on Friday, October 3rd. Citigroup reduced their price objective on LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating for the company in a research report on Thursday, October 2nd. Bank Of America (Bofa) reduced their price objective on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Rothschild & Co Redburn reduced their price objective on LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, September 12th. Finally, Royal Bank Of Canada reduced their price objective on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 5th. One equities research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $60.07.

Insider Buying and Selling at LyondellBasell Industries

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

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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