PFG Investments LLC Buys Shares of 11,900 LyondellBasell Industries N.V. $LYB

Key Points

• PFG Investments LLC has acquired a new position in LyondellBasell Industries, purchasing 11,900 shares valued at approximately $689,000 in the second quarter.
• Recent performance reviews by analysts have led to reduced price targets for LyondellBasell, with JPMorgan Chase lowering its estimate from $60 to $52 and issuing a "neutral" rating.
• LyondellBasell Industries announced a quarterly dividend of $1.37 per share, representing an annualized yield of 11.1%, with a significant payout ratio of 711.69%.

PFG Investments LLC purchased a new position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 11,900 shares of the specialty chemicals company's stock, valued at approximately $689,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in LyondellBasell Industries in the 1st quarter valued at $25,000. JFS Wealth Advisors LLC grew its holdings 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 in the last quarter. Investment Management Corp VA ADV increased its position in shares of LyondellBasell Industries by 177.6% in the first 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. Brown Lisle Cummings Inc. raised its holdings in LyondellBasell Industries by 55.2% during the second quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company's stock worth $35,000 after acquiring an additional 213 shares in the last quarter. Finally, TruNorth Capital Management LLC acquired a new position in LyondellBasell Industries during the first quarter valued at approximately $42,000. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction on 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 completion of the sale, the chief executive officer owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on LYB. JPMorgan Chase & Co. dropped their price objective on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research note on Monday, August 4th. UBS Group dropped their price target on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a research report on Thursday, August 7th. Evercore ISI decreased their price objective on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a research report on Tuesday, September 23rd. Bank Of America (Bofa) lowered their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Finally, BMO Capital Markets cut their target price on shares of 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, LyondellBasell Industries has a consensus rating of "Hold" and an average price target of $62.87.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $49.49 on Friday. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $96.81. The company has a market capitalization of $15.92 billion, a price-to-earnings ratio of 64.28 and a beta of 0.87. The company has a 50-day simple moving average of $53.48 and a 200 day simple moving average of $58.04. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77.

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

LyondellBasell Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is currently 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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