LyondellBasell Industries N.V. (NYSE:LYB) Shares Purchased by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd increased its shareholding in LyondellBasell Industries N.V. by 52.2%, acquiring an additional 11,847 shares, bringing its total holdings to 34,538 shares worth $2,411,000.
• LyondellBasellIndustries reported a net margin of 2.81% and EPS of $0.33 for the most recent quarter, missing analysts' expectations and showing a 7.6% revenue decline from the previous year.
• The company declared its quarterly dividend of $1.37 per share, marking an increase from the previous $1.34, resulting in an annualized dividend yield of 8.56%.

Mediolanum International Funds Ltd increased its stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 52.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,538 shares of the specialty chemicals company's stock after purchasing an additional 11,847 shares during the quarter. Mediolanum International Funds Ltd's holdings in LyondellBasell Industries were worth $2,411,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LYB. Rossby Financial LCC purchased a new position in shares of LyondellBasell Industries in the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC increased 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 valued at $28,000 after acquiring an additional 310 shares in the last quarter. Lazard Asset Management LLC increased 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 valued at $34,000 after acquiring an additional 214 shares in the last quarter. Covestor Ltd increased its holdings in LyondellBasell Industries by 107.6% during the 4th quarter. Covestor Ltd now owns 548 shares of the specialty chemicals company's stock valued at $41,000 after acquiring an additional 284 shares in the last quarter. Finally, TruNorth Capital Management LLC purchased a new position in LyondellBasell Industries during the 1st quarter valued at about $42,000. Hedge funds and other institutional investors own 71.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on LYB shares. Barclays dropped their target price on shares of LyondellBasell Industries from $72.00 to $62.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. BMO Capital Markets dropped their target price on shares of LyondellBasell Industries from $65.00 to $60.00 in a report on Friday, June 27th. The Goldman Sachs Group lowered their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a report on Monday, April 28th. Citigroup lowered their price target on shares of LyondellBasell Industries from $58.00 to $56.00 in a report on Wednesday, June 11th. Finally, Wall Street Zen downgraded shares of LyondellBasell Industries from a "hold" rating to a "sell" rating in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $66.00.

LyondellBasell Industries Trading Down 0.9%

Shares of LYB traded down $0.51 during mid-day trading on Thursday, hitting $58.34. The company had a trading volume of 3,076,713 shares, compared to its average volume of 3,695,073. The business's 50-day simple moving average is $60.15 and its 200-day simple moving average is $65.62. The company has a quick ratio of 1.04, a current ratio of 1.83 and a debt-to-equity ratio of 0.87. LyondellBasell Industries N.V. has a 1-year low of $51.11 and a 1-year high of $100.46. The stock has a market cap of $18.75 billion, a PE ratio of 18.01, a P/E/G ratio of 3.66 and a beta of 0.82.

LyondellBasell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 9th. Shareholders of record on Monday, June 2nd were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 9.39%. This is a boost from LyondellBasell Industries's previous quarterly dividend of $1.34. The ex-dividend date was Monday, June 2nd. LyondellBasell Industries's payout ratio is 169.14%.

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.