NewEdge Advisors LLC Purchases 22,486 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• NewEdge Advisors LLC increased its stake in LyondellBasell Industries by 103.2%, acquiring an additional 22,486 shares worth approximately $3.12 million as of its latest SEC filing.
• CEO Peter Z. E. Vanacker sold 20,000 shares, reducing his ownership by 11.09%, but still retaining 160,351 shares valued at around $8.59 million.
• LyondellBasell reported Q2 earnings of $0.62 per share, missing expectations, with a year-over-year revenue decline of 11.8%, while declaring a quarterly dividend of $1.37.

NewEdge Advisors LLC grew its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 103.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,265 shares of the specialty chemicals company's stock after buying an additional 22,486 shares during the quarter. NewEdge Advisors LLC's holdings in LyondellBasell Industries were worth $3,116,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of LyondellBasell Industries by 21.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 253,013 shares of the specialty chemicals company's stock worth $17,801,000 after acquiring an additional 45,304 shares during the last quarter. Invenomic Capital Management LP bought a new position in shares of LyondellBasell Industries in the first quarter valued at about $5,555,000. Gotham Asset Management LLC raised its holdings in shares of LyondellBasell Industries by 78.8% in the first quarter. Gotham Asset Management LLC now owns 401,488 shares of the specialty chemicals company's stock valued at $28,265,000 after buying an additional 176,979 shares during the last quarter. Alliancebernstein L.P. raised its holdings in LyondellBasell Industries by 15.7% during the 1st quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company's stock worth $289,014,000 after purchasing an additional 557,397 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in LyondellBasell Industries by 45.5% during the 1st quarter. AQR Capital Management LLC now owns 1,234,546 shares of the specialty chemicals company's stock worth $86,492,000 after purchasing an additional 386,152 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 160,351 shares in the company, valued at $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LYB. Argus lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank Of Canada cut their price target on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. UBS Group lowered their price objective on LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. BMO Capital Markets decreased their price target on LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company reduced their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $63.08.

LyondellBasell Industries Price Performance

NYSE LYB traded down $0.27 during trading on Friday, reaching $55.20. The company's stock had a trading volume of 4,852,376 shares, compared to its average volume of 3,892,281. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market capitalization of $17.76 billion, a PE ratio of 71.69 and a beta of 0.85. The firm has a fifty day moving average of $57.50 and a 200 day moving average of $60.72. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $97.60.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings results 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). 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 for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the previous year, the business earned $2.24 earnings per share. LyondellBasell Industries's revenue was down 11.8% compared to the same quarter last year. Analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is 711.69%.

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.