Invesco Ltd. Grows Stake in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Invesco Ltd. has increased its stake in LyondellBasell Industries by 10.4%, bringing their total holdings to over 6.4 million shares valued at approximately $452.8 million.
• LyondellBasell recently reported a quarterly revenue of $7.66 billion, but fell short of earnings expectations with an EPS of $0.62 compared to the consensus estimate of $0.87.
• The company declared a quarterly dividend of $1.37 per share, giving it an annualized dividend of $5.48 and a yield of 11.2%.

Invesco Ltd. lifted its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,432,552 shares of the specialty chemicals company's stock after acquiring an additional 606,234 shares during the quarter. Invesco Ltd. owned approximately 2.00% of LyondellBasell Industries worth $452,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG grew its stake in LyondellBasell Industries by 26.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock worth $14,013,000 after purchasing an additional 39,957 shares during the period. Treasurer of the State of North Carolina boosted its holdings in LyondellBasell Industries by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 114,486 shares of the specialty chemicals company's stock worth $8,503,000 after acquiring an additional 720 shares during the last quarter. Covestor Ltd increased its stake in LyondellBasell Industries by 107.6% in the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after buying an additional 284 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of LyondellBasell Industries by 55.5% during the fourth quarter. Sterling Capital Management LLC now owns 15,430 shares of the specialty chemicals company's stock valued at $1,146,000 after acquiring an additional 5,504 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in LyondellBasell Industries by 7.6% in the fourth quarter. Townsquare Capital LLC now owns 48,641 shares of the specialty chemicals company's stock worth $3,613,000 after purchasing an additional 3,448 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

LYB stock traded up $0.46 during mid-day trading on Thursday, hitting $53.39. 4,023,459 shares of the stock were exchanged, compared to its average volume of 3,918,816. The stock has a market capitalization of $17.17 billion, a price-to-earnings ratio of 69.33, a PEG ratio of 3.26 and a beta of 0.85. LyondellBasell Industries N.V. has a 12 month low of $47.55 and a 12 month high of $99.36. The business has a fifty day moving average price of $59.16 and a 200 day moving average price of $63.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 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 company had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. During the same period last year, the firm earned $2.24 earnings per share. LyondellBasell Industries's revenue for the quarter was down 11.8% on a year-over-year basis. On average, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 10.3%. The ex-dividend date of this dividend is Monday, August 25th. LyondellBasell Industries's payout ratio is presently 711.69%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LYB. JPMorgan Chase & Co. reduced their price target on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Wells Fargo & Company lowered their target price on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. Argus lowered shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Barclays lowered 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. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $63.08.

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.