Raymond James Financial Inc. Has $78.60 Million Stock Position in LyondellBasell Industries N.V. $LYB

Key Points

• Raymond James Financial Inc. increased its stake in LyondellBasell Industries N.V. by 20.0%, owning approximately 1,116,472 shares valued at $78.6 million as of the first quarter.
• CEO Peter Z. E. Vanacker sold 20,000 shares for about $1.07 million, resulting in an 11.09% decrease in the CEO's ownership in the company.
• LyondellBasell recently announced a quarterly dividend of $1.37 per share, with a yield of 10.2% and a significant dividend payout ratio of 711.69%.

Raymond James Financial Inc. grew its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 20.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,116,472 shares of the specialty chemicals company's stock after acquiring an additional 185,887 shares during the period. Raymond James Financial Inc. owned about 0.35% of LyondellBasell Industries worth $78,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vident Advisory LLC grew its position in LyondellBasell Industries by 0.8% in the 4th quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock worth $1,197,000 after purchasing an additional 131 shares during the last quarter. NewSquare Capital LLC grew its position in LyondellBasell Industries by 0.3% in the 1st quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock worth $4,932,000 after purchasing an additional 193 shares during the last quarter. Forza Wealth Management LLC grew its position in LyondellBasell Industries by 1.6% in the 1st quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock worth $894,000 after purchasing an additional 200 shares during the last quarter. TCW Group Inc. lifted its stake in shares of LyondellBasell Industries by 1.1% in the 1st quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock worth $1,297,000 after acquiring an additional 202 shares during the period. Finally, Horizon Investments LLC lifted its stake in shares of LyondellBasell Industries by 2.5% in the 1st quarter. Horizon Investments LLC now owns 8,297 shares of the specialty chemicals company's stock worth $584,000 after acquiring an additional 202 shares during the period. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the stock in a transaction 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 transaction, the chief executive officer owned 160,351 shares in the company, valued at $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LYB. The Goldman Sachs Group reduced their price target on shares of LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating for the company in a research note on Monday, April 28th. UBS Group reduced their price target on shares of LyondellBasell Industries from $49.00 to $44.00 and set a "sell" rating for the company in a research note on Thursday, August 7th. Piper Sandler reduced their price target on shares of LyondellBasell Industries from $67.00 to $66.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, BMO Capital Markets cut their target price 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 equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, LyondellBasell Industries currently has an average rating of "Hold" and an average target price of $63.08.

LyondellBasell Industries Stock Up 5.9%

LyondellBasell Industries stock traded up $3.2460 during trading hours on Friday, hitting $58.7160. The company had a trading volume of 7,920,792 shares, compared to its average volume of 5,568,035. The firm has a market capitalization of $18.89 billion, a P/E ratio of 76.26 and a beta of 0.85. 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's fifty day moving average is $58.57 and its 200-day moving average is $62.79. LyondellBasell Industries N.V. has a fifty-two week low of $47.55 and a fifty-two week high of $99.36.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.25). The company had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.24 EPS. On average, research analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 9.3%. LyondellBasell Industries's dividend payout ratio is 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.