New York State Teachers Retirement System Sells 31,320 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• The New York State Teachers Retirement System has sold 31,320 shares of LyondellBasell Industries, reducing its stake by 15.8% to a total of 166,882 shares valued at approximately $9.66 million.
• LyondellBasell reported a quarterly earnings per share of $0.62, missing estimates by $0.25, and its revenue for the quarter was down 11.8% year-over-year.
• The company recently declared a quarterly dividend of $1.37 per share, resulting in an annualized dividend yield of 11.9%.

New York State Teachers Retirement System decreased its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 15.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,882 shares of the specialty chemicals company's stock after selling 31,320 shares during the period. New York State Teachers Retirement System owned 0.05% of LyondellBasell Industries worth $9,656,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allen Mooney & Barnes Investment Advisors LLC boosted its stake in shares of LyondellBasell Industries by 69.1% in the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company's stock worth $14,456,000 after acquiring an additional 102,140 shares during the period. M&T Bank Corp boosted its stake in shares of LyondellBasell Industries by 1.1% in the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after acquiring an additional 209 shares during the period. KLP Kapitalforvaltning AS boosted its stake in LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock valued at $16,743,000 after buying an additional 148,500 shares during the last quarter. Private Advisor Group LLC boosted its stake in LyondellBasell Industries by 44.3% during the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company's stock valued at $1,019,000 after buying an additional 4,442 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in LyondellBasell Industries by 103.2% during the first quarter. NewEdge Advisors LLC now owns 44,265 shares of the specialty chemicals company's stock valued at $3,116,000 after buying an additional 22,486 shares during the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $46.17 on Monday. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 59.97 and a beta of 0.87. LyondellBasell Industries N.V. has a 1 year low of $44.89 and a 1 year high of $92.14. The business has a 50 day simple moving average of $51.95 and a 200-day simple moving average of $56.24. 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 posted 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 company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.24 earnings per share. Equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 11.9%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is presently 711.69%.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research reports. Wells Fargo & Company dropped their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Royal Bank Of Canada dropped their price target on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Mizuho dropped their price target on LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating for the company in a research note on Friday, October 3rd. BMO Capital Markets dropped their price target on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating for the company in a research note on Wednesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating for the company in a research note on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $58.56.

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.

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