Swedbank AB Increases Stock Holdings in LyondellBasell Industries N.V. $LYB

Key Points

• Swedbank AB increased its stake in LyondellBasell Industries N.V. by 37.3%, acquiring an additional 62,102 shares, bringing its total ownership to 228,502 shares worth approximately $13.2 million.
• LyondellBasell reported earnings per share (EPS) of $0.62 for the last quarter, missing estimates by $0.25, and showed an 11.8% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.37, with a yield of 10.5%, although its dividend payout ratio is notably high at 711.69%.

Swedbank AB raised its holdings in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 37.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 228,502 shares of the specialty chemicals company's stock after buying an additional 62,102 shares during the quarter. Swedbank AB owned 0.07% of LyondellBasell Industries worth $13,221,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rossby Financial LCC acquired a new stake in LyondellBasell Industries during the first quarter valued at approximately $25,000. JFS Wealth Advisors LLC raised its stake in shares of LyondellBasell Industries by 352.3% in the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company's stock worth $28,000 after acquiring an additional 310 shares during the last quarter. Investment Management Corp VA ADV lifted its position in shares of 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 worth $29,000 after purchasing an additional 261 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of LyondellBasell Industries by 84.9% during the fourth quarter. Lazard Asset Management LLC now owns 466 shares of the specialty chemicals company's stock valued at $34,000 after purchasing an additional 214 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in shares of LyondellBasell Industries during the first quarter worth $42,000. 71.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other LyondellBasell Industries news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LYB shares. Rothschild & Co Redburn reduced 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 note on Friday, September 12th. BMO Capital Markets reduced their price objective on shares of LyondellBasell Industries from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 6th. Evercore ISI dropped their target price on shares of LyondellBasell Industries from $90.00 to $65.00 and set an "in-line" rating for the company in a research report on Tuesday. Argus lowered LyondellBasell Industries from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Citigroup dropped their price objective on LyondellBasell Industries from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $64.00.

LyondellBasell Industries Trading Down 0.3%

Shares of LyondellBasell Industries stock traded down $0.16 during trading on Tuesday, hitting $50.94. The company's stock had a trading volume of 2,020,297 shares, compared to its average volume of 4,004,965. The stock has a market cap of $16.38 billion, a price-to-earnings ratio of 66.15 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. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $97.60. The stock has a 50-day moving average price of $56.00 and a two-hundred day moving average price of $59.37.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.25). The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were given a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 10.8%. LyondellBasell Industries's dividend payout ratio is presently 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.