Praxis Investment Management Inc. Raises Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Praxis Investment Management Inc. increased its holdings in LyondellBasell Industries by 85.5% during the second quarter, now owning 59,390 shares valued at approximately $3.4 million.
• LyondellBasell reported earnings per share (EPS) of $0.62 for the latest quarter, falling short of analyst expectations by $0.25, while its revenue decreased 11.8% year-over-year.
• The company declared a quarterly dividend of $1.37, with a substantial annualized dividend yield of 12.0%, although its dividend payout ratio stands at an extraordinary 711.69%.

Praxis Investment Management Inc. boosted its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 85.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,390 shares of the specialty chemicals company's stock after purchasing an additional 27,380 shares during the quarter. Praxis Investment Management Inc.'s holdings in LyondellBasell Industries were worth $3,436,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of LYB. Rossby Financial LCC purchased a new position in LyondellBasell Industries during the 1st quarter worth $25,000. JFS Wealth Advisors LLC increased its stake in shares of LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock valued at $28,000 after buying an additional 310 shares during the period. Investment Management Corp VA ADV increased its stake in shares of LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company's stock valued at $29,000 after buying an additional 261 shares during the period. Hilltop National Bank purchased a new position in LyondellBasell Industries during the 2nd quarter valued at about $29,000. Finally, Brown Lisle Cummings Inc. increased its position in LyondellBasell Industries by 55.2% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company's stock valued at $35,000 after purchasing an additional 213 shares during the period. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

LyondellBasell Industries Trading Down 2.0%

Shares of NYSE:LYB opened at $45.83 on Friday. LyondellBasell Industries N.V. has a 1 year low of $44.89 and a 1 year high of $92.63. 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 firm has a market capitalization of $14.74 billion, a P/E ratio of 59.52 and a beta of 0.87. The business's 50-day moving average is $52.01 and its 200 day moving average is $56.55.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data 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 net margin of 0.74% and a return on equity of 9.35%. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the company earned $2.24 EPS. The business's revenue was down 11.8% compared to the same quarter last year. On average, research analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 12.0%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's dividend payout ratio is presently 711.69%.

Analyst Ratings Changes

A number of research analysts have commented on LYB shares. JPMorgan Chase & Co. cut their target price on shares of LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating on the stock in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of LyondellBasell Industries from $58.00 to $53.00 and set a "hold" rating for the company in a research note on Wednesday, October 1st. Rothschild & Co Redburn cut their price target on LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, September 12th. UBS Group cut their price target on LyondellBasell Industries from $44.00 to $43.00 and set a "sell" rating on the stock in a report on Monday, October 6th. Finally, Royal Bank Of Canada reduced their target price on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries has an average rating of "Hold" and an average price target of $59.44.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company'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 transaction, the chief executive officer directly owned 160,351 shares of the company's stock, valued at $8,590,003.07. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

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.

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