Raleigh Capital Management Inc. Sells 6,970 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Raleigh Capital Management Inc. reduced its stake in LyondellBasell Industries N.V. by 40.1%, selling 6,970 shares and now holding 10,399 shares valued at $602,000.
• CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell stock for about $1.07 million, reducing his ownership by 11.09% to approximately 160,351 shares.
• LyondellBasell reported a quarterly earnings miss, earning $0.62 per share compared to the consensus estimate of $0.87, alongside a revenue of $7.66 billion for the quarter.

Raleigh Capital Management Inc. lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 40.1% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,399 shares of the specialty chemicals company's stock after selling 6,970 shares during the period. Raleigh Capital Management Inc.'s holdings in LyondellBasell Industries were worth $602,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LYB. MassMutual Private Wealth & Trust FSB lifted its stake in LyondellBasell Industries by 110.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,171 shares of the specialty chemicals company's stock valued at $82,000 after acquiring an additional 614 shares during the period. Versant Capital Management Inc lifted its stake in LyondellBasell Industries by 127.9% during the 1st quarter. Versant Capital Management Inc now owns 866 shares of the specialty chemicals company's stock valued at $61,000 after acquiring an additional 486 shares during the period. GAMMA Investing LLC lifted its stake in LyondellBasell Industries by 10,932.0% during the 1st quarter. GAMMA Investing LLC now owns 212,256 shares of the specialty chemicals company's stock valued at $14,943,000 after acquiring an additional 210,332 shares during the period. Parallel Advisors LLC lifted its stake in LyondellBasell Industries by 23.4% during the 1st quarter. Parallel Advisors LLC now owns 5,908 shares of the specialty chemicals company's stock valued at $416,000 after acquiring an additional 1,119 shares during the period. Finally, Rhumbline Advisers lifted its stake in LyondellBasell Industries by 7.8% during the 1st quarter. Rhumbline Advisers now owns 500,901 shares of the specialty chemicals company's stock valued at $35,263,000 after acquiring an additional 36,303 shares during the period. Institutional investors own 71.20% of the company's stock.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer owned 160,351 shares of the company's stock, valued at approximately $8,590,003.07. The trade was 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 currently owned by insiders.

LyondellBasell Industries Trading Down 1.0%

Shares of LyondellBasell Industries stock opened at $48.98 on Tuesday. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $97.39. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The company has a market capitalization of $15.75 billion, a P/E ratio of 63.61 and a beta of 0.85. The company has a fifty day moving average of $54.70 and a 200 day moving average of $58.53.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). The business 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%. LyondellBasell Industries's revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.24 earnings per share. On average, sell-side analysts anticipate that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries's dividend payout ratio (DPR) is 711.69%.

Analysts Set New Price Targets

Several research firms have issued reports on LYB. Royal Bank Of Canada lowered 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 note on Tuesday, August 5th. Mizuho increased their price objective on shares of LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 15th. 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. Rothschild & Co Redburn lowered their price objective on shares of LyondellBasell Industries from $80.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, September 12th. Finally, Evercore ISI lowered their price objective on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 23rd. 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 two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $64.00.

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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