Quarry LP Cuts Stake in LyondellBasell Industries N.V. $LYB

Key Points

• Quarry LP has drastically decreased its stake in LyondellBasell Industries by 89.2%, selling 23,807 shares and leaving it with 2,888 shares valued at approximately $203,000.
• LyondellBasell recently reported $0.62 earnings per share, missing analysts' expectations, and saw an 11.8% revenue decline compared to the previous year.
• The company declared a quarterly dividend of $1.37 per share, yielding 9.7%, with a high dividend payout ratio of 711.69%.

Quarry LP lessened its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 89.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,888 shares of the specialty chemicals company's stock after selling 23,807 shares during the period. Quarry LP's holdings in LyondellBasell Industries were worth $203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vident Advisory LLC lifted its stake in LyondellBasell Industries by 61.9% in the 1st quarter. Vident Advisory LLC now owns 26,109 shares of the specialty chemicals company's stock valued at $1,838,000 after purchasing an additional 9,986 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in LyondellBasell Industries by 1,168.5% in the 1st quarter. Evergreen Capital Management LLC now owns 182,507 shares of the specialty chemicals company's stock valued at $12,848,000 after purchasing an additional 168,119 shares during the last quarter. Magnetar Financial LLC bought a new position in LyondellBasell Industries in the 1st quarter valued at approximately $616,000. Cascade Investment Group Inc. lifted its stake in LyondellBasell Industries by 54.1% in the 1st quarter. Cascade Investment Group Inc. now owns 5,643 shares of the specialty chemicals company's stock valued at $397,000 after purchasing an additional 1,980 shares during the last quarter. Finally, Eisler Capital Management Ltd. lifted its stake in LyondellBasell Industries by 11.4% in the 1st quarter. Eisler Capital Management Ltd. now owns 4,666 shares of the specialty chemicals company's stock valued at $328,000 after purchasing an additional 476 shares during the last quarter. Institutional investors own 71.20% of the company's stock.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock traded up $0.74 during trading hours on Friday, hitting $55.04. 4,225,031 shares of the company's stock traded hands, compared to its average volume of 3,928,678. LyondellBasell Industries N.V. has a 12-month low of $47.55 and a 12-month high of $97.60. The company has a fifty day simple moving average of $58.07 and a 200-day simple moving average of $61.50. 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 stock has a market capitalization of $17.70 billion, a price-to-earnings ratio of 71.48 and a beta of 0.85.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its 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). The company had revenue of $7.66 billion during the quarter, compared to analysts' expectations of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.24 earnings per share. Equities research analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were given a $1.37 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 10.0%. LyondellBasell Industries's payout ratio is 711.69%.

Insiders Place Their Bets

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction of $1,071,400.00. Following the sale, the chief executive officer owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

LYB has been the subject of several research reports. Royal Bank Of Canada dropped their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 5th. Bank Of America (Bofa) dropped their price target on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Argus downgraded shares of LyondellBasell Industries from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Mizuho raised their price target on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets dropped their price target 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 investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $63.08.

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.