Private Advisor Group LLC Purchases 4,442 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Private Advisor Group LLC has increased its stake in LyondellBasell Industries by 44.3%, now owning 14,474 shares valued at $1,019,000.
• LyondellBasell reported a net loss for the quarter with an EPS of $0.33, missing estimates, and its revenue decreased by 7.6% year-over-year.
• The company recently declared a quarterly dividend of $1.37, reflecting an increase and an annual yield of 8.56%, although its payout ratio stands at 169.14%.

Private Advisor Group LLC lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 44.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,474 shares of the specialty chemicals company's stock after purchasing an additional 4,442 shares during the quarter. Private Advisor Group LLC's holdings in LyondellBasell Industries were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. M&T Bank Corp boosted its position in LyondellBasell Industries by 1.1% during the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after buying an additional 209 shares during the period. GAMMA Investing LLC lifted its position in shares of LyondellBasell Industries by 56.7% in the 1st quarter. GAMMA Investing LLC now owns 3,015 shares of the specialty chemicals company's stock worth $212,000 after purchasing an additional 1,091 shares during the period. Farther Finance Advisors LLC lifted its position in shares of LyondellBasell Industries by 28.3% in the 1st quarter. Farther Finance Advisors LLC now owns 9,168 shares of the specialty chemicals company's stock worth $642,000 after purchasing an additional 2,021 shares during the period. Townsend & Associates Inc lifted its position in shares of LyondellBasell Industries by 28.1% in the 1st quarter. Townsend & Associates Inc now owns 29,019 shares of the specialty chemicals company's stock worth $2,043,000 after purchasing an additional 6,371 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of LyondellBasell Industries in the 1st quarter worth approximately $442,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 1.8%

LYB traded down $1.05 during trading on Thursday, hitting $57.80. 1,561,100 shares of the company's stock were exchanged, compared to its average volume of 3,684,626. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. The business's 50 day moving average is $60.15 and its two-hundred day moving average is $65.62. LyondellBasell Industries N.V. has a fifty-two week low of $51.11 and a fifty-two week high of $100.46. The stock has a market cap of $18.58 billion, a P/E ratio of 17.84, a PEG ratio of 3.66 and a beta of 0.82.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were paid a $1.37 dividend. This is a positive change from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date was Monday, June 2nd. This represents a $5.48 annualized dividend and a dividend yield of 9.48%. LyondellBasell Industries's dividend payout ratio is presently 169.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LYB shares. Barclays dropped their price target on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 1st. Mizuho boosted their target price on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research report on Tuesday, July 15th. UBS Group dropped their target price on shares of LyondellBasell Industries from $50.00 to $49.00 and set a "sell" rating on the stock in a research report on Wednesday, July 9th. BMO Capital Markets dropped their target price on shares of LyondellBasell Industries from $65.00 to $60.00 in a research report on Friday, June 27th. Finally, Bank Of America (Bofa) dropped their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $66.00.

LyondellBasell Industries 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.