USS Investment Management Ltd Sells 53,300 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• USS Investment Management Ltd significantly reduced its holdings in LyondellBasell Industries, cutting ownership by 94.1% to 3,366 shares after selling 53,300 shares in the first quarter.
• CEO Peter Z. E. Vanacker sold 20,000 shares for approximately $1.07 million, resulting in an 11.09% decrease in his position in the company.
• LyondellBasell Industries reported $0.62 EPS for the last quarter, missing expectations by $0.25, and its revenue decreased by 11.8% compared to the same quarter last year.

USS Investment Management Ltd lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 94.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,366 shares of the specialty chemicals company's stock after selling 53,300 shares during the quarter. USS Investment Management Ltd's holdings in LyondellBasell Industries were worth $237,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in LyondellBasell Industries during the 1st quarter worth about $25,000. JFS Wealth Advisors LLC grew its holdings in LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 310 shares during the last quarter. Investment Management Corp VA ADV grew its holdings in LyondellBasell Industries by 177.6% during the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock worth $29,000 after acquiring an additional 261 shares during the last quarter. Lazard Asset Management LLC grew its holdings in LyondellBasell Industries by 84.9% during the 4th quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock worth $34,000 after acquiring an additional 214 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in LyondellBasell Industries during the 1st quarter worth about $42,000. Institutional investors own 71.20% of the company's stock.

Insider Buying and Selling at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the completion of the transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

LyondellBasell Industries Stock Down 0.5%

Shares of NYSE LYB traded down $0.27 during midday trading on Friday, reaching $55.20. The company's stock had a trading volume of 4,852,369 shares, compared to its average volume of 3,943,706. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $97.60. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 71.69 and a beta of 0.85. The stock has a 50 day simple moving average of $57.50 and a 200-day simple moving average of $60.72.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data 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 net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the business earned $2.24 earnings per share. LyondellBasell Industries's revenue for the quarter was down 11.8% on a year-over-year basis. Equities research analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were paid a $1.37 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 9.9%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 711.69%.

Wall Street Analysts Forecast Growth

LYB has been the topic of several recent research reports. Royal Bank Of Canada reduced their target price 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. BMO Capital Markets reduced their target price on shares of 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. Citigroup reduced 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. Bank Of America (Bofa) cut their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Finally, Argus downgraded shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. 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 stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $63.08.

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.