Old North State Wealth Management LLC Acquires 6,460 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Old North State Wealth Management LLC increased its holdings in LyondellBasell Industries by 16.5%, owning a total of 45,677 shares valued at approximately $2.646 million as of the last quarter.
• LyondellBasell Industries reported a net loss with earnings per share of $0.62, missing consensus estimates by $0.25, while revenue decreased by 11.8% year-over-year.
• The company announced a quarterly dividend of $1.37, resulting in an annualized dividend yield of 11.2%.

Old North State Wealth Management LLC boosted its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 16.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,677 shares of the specialty chemicals company's stock after purchasing an additional 6,460 shares during the period. LyondellBasell Industries comprises approximately 1.4% of Old North State Wealth Management LLC's investment portfolio, making the stock its 26th biggest position. Old North State Wealth Management LLC's holdings in LyondellBasell Industries were worth $2,646,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in LyondellBasell Industries during the first quarter worth $25,000. JFS Wealth Advisors LLC lifted its stake in shares of LyondellBasell Industries by 352.3% in 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 during the last quarter. Investment Management Corp VA ADV lifted its stake in shares of LyondellBasell Industries by 177.6% in the 1st quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after acquiring an additional 261 shares during the last quarter. TruNorth Capital Management LLC bought a new position in shares of LyondellBasell Industries in the 1st quarter valued at $42,000. Finally, VSM Wealth Advisory LLC lifted its stake in shares of LyondellBasell Industries by 200.0% in the 1st quarter. VSM Wealth Advisory LLC now owns 600 shares of the specialty chemicals company's stock valued at $42,000 after acquiring an additional 400 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $48.97 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average price of $55.25 and a two-hundred day moving average price of $59.07. LyondellBasell Industries N.V. has a 1-year low of $47.55 and a 1-year high of $97.60. The company has a market cap of $15.75 billion, a P/E ratio of 63.60 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last issued its quarterly earnings results 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). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the business posted $2.24 earnings per share. The business's revenue was down 11.8% on a year-over-year basis. As a group, analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were paid a $1.37 dividend. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.2%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 711.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LYB shares. Argus cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Citigroup dropped their price target on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. JPMorgan Chase & Co. dropped their price target on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research note on Monday, August 4th. UBS Group lowered their target price on LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating for the company in a research report on Thursday, August 7th. Finally, Mizuho raised their target price on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.00.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 160,351 shares in the company, valued at $8,590,003.07. This trade represents a 11.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

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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