QRG Capital Management Inc. Has $5.87 Million Position in LyondellBasell Industries N.V. $LYB

Key Points

• QRG Capital Management Inc. increased its position in LyondellBasell Industries by 15.3% in the 2nd quarter, bringing their total holdings to $5.87 million worth of stock.
• CEO Peter Z. E. Vanacker sold 20,000 shares for approximately $1.07 million, reducing his ownership by 11.09% to about 160,351 shares.
• Several analysts have recently lowered their price targets for LyondellBasell, with current consensus ratings indicating a "Hold" status and an average target price of $60.13.

QRG Capital Management Inc. boosted its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 15.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,360 shares of the specialty chemicals company's stock after purchasing an additional 13,466 shares during the quarter. QRG Capital Management Inc.'s holdings in LyondellBasell Industries were worth $5,865,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in LYB. Charles Schwab Investment Management Inc. boosted its holdings in LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock worth $650,465,000 after purchasing an additional 657,443 shares during the last quarter. Invesco Ltd. lifted its position in shares of LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock worth $452,852,000 after buying an additional 606,234 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of LyondellBasell Industries by 12.7% during the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company's stock worth $333,994,000 after buying an additional 534,456 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of LyondellBasell Industries by 12.8% during the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company's stock worth $316,113,000 after buying an additional 509,996 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of LyondellBasell Industries by 15.7% during the 1st quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company's stock worth $289,014,000 after buying an additional 557,397 shares in the last quarter. Institutional investors own 71.20% of the company's stock.

Insider Transactions at LyondellBasell Industries

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business'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 sale, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on LYB. Rothschild & Co Redburn dropped their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, September 12th. UBS Group cut their price target on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating on the stock in a report on Thursday, August 7th. Mizuho cut their price target on shares of LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a report on Friday. Wells Fargo & Company cut their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Finally, Citigroup cut their price target on shares of LyondellBasell Industries from $53.00 to $49.00 and set a "neutral" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $60.13.

LyondellBasell Industries Trading Up 0.3%

Shares of LyondellBasell Industries stock opened at $49.49 on Monday. LyondellBasell Industries N.V. has a 52-week low of $47.55 and a 52-week high of $96.81. The stock's 50-day simple moving average is $53.48 and its 200 day simple moving average is $57.83. The stock has a market capitalization of $15.92 billion, a P/E ratio of 64.28 and a beta of 0.87. 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 announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The company's revenue was down 11.8% on a year-over-year basis. As a group, research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries's payout ratio is currently 711.69%.

LyondellBasell Industries Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.