Ritholtz Wealth Management Purchases 5,795 Shares of LyondellBasell Industries N.V. $LYB

Key Points

• Ritholtz Wealth Management increased its position in LyondellBasell Industries by 71.4% during the second quarter, acquiring an additional 5,795 shares for a total of 13,915 shares valued at $805,000.
• CEO Peter Z. E. Vanacker sold 20,000 shares at an average price of $53.57, reducing his ownership by 11.09% to 160,351 shares.
• Analysts have a mixed outlook on LyondellBasell, with target prices ranging from $51 to $65, and the stock currently holds an average rating of "Hold" with a consensus target of $58.56.

Ritholtz Wealth Management grew its position in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 71.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 13,915 shares of the specialty chemicals company's stock after acquiring an additional 5,795 shares during the quarter. Ritholtz Wealth Management's holdings in LyondellBasell Industries were worth $805,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Bank Of America (Bofa) reduced their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Mizuho reduced their target price on shares of LyondellBasell Industries from $62.00 to $54.00 and set a "neutral" rating on the stock in a research note on Friday, October 3rd. Zacks Research raised shares of LyondellBasell Industries from a "strong sell" rating to a "hold" rating in a research note on Friday, October 3rd. The Goldman Sachs Group reduced their target price on shares of LyondellBasell Industries from $59.00 to $51.00 and set a "sell" rating on the stock in a research note on Friday. Finally, Evercore ISI reduced their target price 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 analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, LyondellBasell Industries presently has an average rating of "Hold" and a consensus price target of $58.56.

LyondellBasell Industries Stock Up 0.7%

NYSE:LYB opened at $46.17 on Friday. LyondellBasell Industries N.V. has a twelve month low of $44.89 and a twelve month high of $92.14. The company has a market cap of $14.85 billion, a price-to-earnings ratio of 59.97 and a beta of 0.87. The stock has a fifty day simple moving average of $51.95 and a 200-day simple moving average of $56.28. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94.

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 the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the business posted $2.24 earnings per share. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a yield of 11.9%. LyondellBasell Industries's dividend payout ratio is 711.69%.

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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