Plan Group Financial LLC Makes New $403,000 Investment in LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• Plan Group Financial LLC has acquired a new position in LyondellBasell Industries, purchasing 5,730 shares valued at approximately $403,000.
• LyondellBasell's recent earnings report showed a missed EPS estimate of $0.62 compared to the consensus of $0.87, with revenues declining 11.8% from the previous year.
• The company announced a quarterly dividend of $1.37 per share, translating to an annualized dividend yield of 10.8%.

Plan Group Financial LLC acquired a new stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,730 shares of the specialty chemicals company's stock, valued at approximately $403,000.

A number of other hedge funds have also recently modified their holdings of LYB. Bank Pictet & Cie Europe AG grew its position in shares of LyondellBasell Industries by 26.9% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 188,680 shares of the specialty chemicals company's stock valued at $14,013,000 after acquiring an additional 39,957 shares during the period. Russell Investments Group Ltd. grew its position in shares of LyondellBasell Industries by 18.4% during the fourth quarter. Russell Investments Group Ltd. now owns 363,874 shares of the specialty chemicals company's stock valued at $27,007,000 after purchasing an additional 56,463 shares in the last quarter. Cerity Partners LLC grew its position in shares of LyondellBasell Industries by 17.4% during the fourth quarter. Cerity Partners LLC now owns 141,395 shares of the specialty chemicals company's stock valued at $10,767,000 after purchasing an additional 20,962 shares in the last quarter. Bank of Montreal Can grew its position in shares of LyondellBasell Industries by 6.8% during the fourth quarter. Bank of Montreal Can now owns 543,412 shares of the specialty chemicals company's stock valued at $40,359,000 after purchasing an additional 34,587 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of LyondellBasell Industries by 13.5% during the fourth quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company's stock valued at $432,721,000 after purchasing an additional 694,055 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LYB. Fermium Researc upgraded shares of LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. Argus cut shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Royal Bank Of Canada decreased their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating on the stock in a research report on Tuesday. Wells Fargo & Company decreased their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Monday. Finally, BMO Capital Markets decreased their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and a consensus price target of $63.08.

LyondellBasell Industries Trading Up 1.3%

Shares of NYSE:LYB traded up $0.63 during trading on Thursday, reaching $50.18. 5,209,864 shares of the company were exchanged, compared to its average volume of 5,132,193. The firm has a market capitalization of $16.14 billion, a PE ratio of 65.16, a P/E/G ratio of 3.21 and a beta of 0.85. The business's fifty day simple moving average is $59.61 and its 200-day simple moving average is $64.63. LyondellBasell Industries N.V. has a 12-month low of $49.27 and a 12-month high of $99.36. 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 issued its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The business's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $2.24 earnings per share. On average, research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 10.9%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 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.