Nuveen LLC Takes $43.28 Million Position in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Nuveen LLC has acquired a significant stake in LyondellBasell Industries, purchasing 614,766 shares valued at approximately $43.28 million, which represents about 0.19% of the company's stock.
• Recent analysts' ratings for LyondellBasell have seen a downward trend, with firms like Royal Bank of Canada and UBS Group lowering their target prices and assigning "sell" ratings.
• LyondellBasell is set to distribute a quarterly dividend of $1.37 per share on September 2nd, with an annual yield estimated at 10.3%, despite a notably high payout ratio of 711.69%.

Nuveen LLC acquired a new stake in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 614,766 shares of the specialty chemicals company's stock, valued at approximately $43,280,000. Nuveen LLC owned about 0.19% of LyondellBasell Industries as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. M&T Bank Corp increased its stake in shares of LyondellBasell Industries by 1.1% during the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after purchasing an additional 209 shares during the period. KLP Kapitalforvaltning AS increased its stake in shares of LyondellBasell Industries by 166.2% during the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company's stock worth $16,743,000 after purchasing an additional 148,500 shares during the period. Private Advisor Group LLC increased its stake in shares of 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 worth $1,019,000 after purchasing an additional 4,442 shares during the period. GAMMA Investing LLC increased its stake in shares of LyondellBasell Industries by 56.7% during the first 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. Finally, Farther Finance Advisors LLC increased its stake in shares of LyondellBasell Industries by 28.3% during the first 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. 71.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LYB shares. Royal Bank Of Canada lowered their target price on LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research note 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 note on Thursday, August 7th. The Goldman Sachs Group lowered their price objective on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, April 28th. Bank Of America (Bofa) lowered their price objective on LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Finally, Wells Fargo & Company lowered their price objective 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. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.08.

Insider Buying and Selling

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.14% of the company's stock.

LyondellBasell Industries Trading Up 0.1%

Shares of LYB stock opened at $53.38 on Friday. The firm has a market capitalization of $17.17 billion, a P/E ratio of 69.33, a P/E/G ratio of 3.46 and a beta of 0.85. LyondellBasell Industries N.V. has a twelve month low of $47.55 and a twelve month high of $99.36. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock's fifty day simple moving average is $59.05 and its 200 day simple moving average is $63.53.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.24 EPS. As a group, sell-side analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

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

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.

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