US Bancorp DE Sells 40,756 Shares of LyondellBasell Industries N.V. (NYSE:LYB)

Key Points

• US Bancorp DE has reduced its stake in LyondellBasell Industries N.V. by 22.0%, selling 40,756 shares during the first quarter, resulting in ownership of 144,545 shares valued at $10.18 million.
• LyondellBasell reported earnings of $0.62 per share for the last quarter, missing the estimated $0.87 EPS, and experienced a 11.8% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.37, which represents an annualized yield of 10.8% and a payout ratio of 711.69%.

US Bancorp DE reduced its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,545 shares of the specialty chemicals company's stock after selling 40,756 shares during the period. US Bancorp DE's holdings in LyondellBasell Industries were worth $10,176,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vident Advisory LLC raised its holdings in LyondellBasell Industries by 0.8% during the fourth quarter. Vident Advisory LLC now owns 16,123 shares of the specialty chemicals company's stock valued at $1,197,000 after buying an additional 131 shares in the last quarter. NewSquare Capital LLC raised its holdings in LyondellBasell Industries by 0.3% during the first quarter. NewSquare Capital LLC now owns 70,986 shares of the specialty chemicals company's stock valued at $4,932,000 after buying an additional 193 shares in the last quarter. Forza Wealth Management LLC raised its holdings in LyondellBasell Industries by 1.6% during the first quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company's stock valued at $894,000 after buying an additional 200 shares in the last quarter. TCW Group Inc. increased its stake in shares of LyondellBasell Industries by 1.1% in the first quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company's stock worth $1,297,000 after purchasing an additional 202 shares during the period. Finally, M&T Bank Corp increased its stake in shares of LyondellBasell Industries by 1.1% in the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company's stock worth $1,405,000 after purchasing an additional 209 shares during the period. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Price Performance

Shares of LYB traded down $2.53 on Monday, hitting $50.89. The company's stock had a trading volume of 10,112,569 shares, compared to its average volume of 4,429,049. The company has a market capitalization of $16.36 billion, a PE ratio of 66.10, a PEG ratio of 3.13 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 fifty-two week low of $50.77 and a fifty-two week high of $99.36. The company has a 50 day moving average price of $60.02 and a 200 day moving average price of $65.01.

LyondellBasell Industries (NYSE:LYB - Get Free Report) last announced its earnings results 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 analyst estimates of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%. The firm's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 earnings per share. On average, research 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 will be paid on Tuesday, September 2nd. Investors of record on Monday, August 25th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 10.8%. LyondellBasell Industries's dividend payout ratio (DPR) is presently 711.69%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LYB. Fermium Researc upgraded LyondellBasell Industries to a "strong-buy" rating in a research note on Friday, April 25th. Wall Street Zen lowered LyondellBasell Industries from a "hold" rating to a "sell" rating in a research note on Monday, April 28th. Bank Of America (Bofa) decreased their target price on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. The Goldman Sachs Group decreased their target price on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a research report on Monday, April 28th. Finally, Mizuho lifted their target price on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $64.38.

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.