LyondellBasell Industries N.V. $LYB Shares Sold by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC has reduced its stake in LyondellBasell Industries by 8.9%, holding 55,804 shares valued at approximately $3.46 million.
• LyondellBasell reported a missed earnings estimate with a Q2 EPS of $0.62 compared to the consensus estimate of $0.87, despite revenue reaching $7.66 billion.
• The company declared a quarterly dividend of $1.37 per share, resulting in an annualized dividend yield of 11.1% and a payout ratio of 711.69%.

Wealth Enhancement Advisory Services LLC trimmed its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,804 shares of the specialty chemicals company's stock after selling 5,437 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in LyondellBasell Industries were worth $3,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LYB. B. Riley Wealth Advisors Inc. boosted its stake in LyondellBasell Industries by 12.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 7,301 shares of the specialty chemicals company's stock valued at $542,000 after purchasing an additional 803 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in LyondellBasell Industries during the 4th quarter valued at about $13,697,000. MassMutual Private Wealth & Trust FSB grew its holdings in LyondellBasell Industries by 110.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,171 shares of the specialty chemicals company's stock worth $82,000 after buying an additional 614 shares in the last quarter. Versant Capital Management Inc grew its holdings in LyondellBasell Industries by 127.9% in the 1st quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company's stock worth $61,000 after buying an additional 486 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in LyondellBasell Industries by 10,932.0% in the 1st quarter. GAMMA Investing LLC now owns 212,256 shares of the specialty chemicals company's stock worth $14,943,000 after buying an additional 210,332 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

Shares of NYSE:LYB opened at $49.48 on Friday. The company's fifty day moving average is $54.98 and its two-hundred day moving average is $58.90. 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 12-month low of $47.55 and a 12-month high of $97.60. The company has a market cap of $15.92 billion, a P/E ratio of 64.26 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced 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 business had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.24 earnings per share. Equities analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LYB. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a report on Monday, August 4th. Mizuho boosted their price target on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Argus downgraded LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Bank Of America (Bofa) cut their target price on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Finally, Citigroup decreased their target price on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, LyondellBasell Industries presently has an average rating of "Hold" and an average 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.

Want to see what other hedge funds are holding LYB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LyondellBasell Industries N.V. (NYSE:LYB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.