Wellington Management Group LLP Decreases Stake in LyondellBasell Industries N.V. $LYB

Key Points

• Wellington Management Group LLP has reduced its holdings in LyondellBasell Industries by 24.4%, selling 701,444 shares, leaving it with 2,169,222 shares valued at approximately $152.7 million.
• Several hedge funds have increased their stakes in LyondellBasell, with Charles Schwab Investment Management owning the largest amount at 9,239,562 shares, following a 7.7% increase in their holdings.
• LyondellBasell reported a significant earnings miss for the last quarter with $0.62 EPS, falling short of the $0.87 EPS consensus estimate, and now has an annualized dividend yield of 9.9%.

Wellington Management Group LLP reduced its position in LyondellBasell Industries N.V. (NYSE:LYB - Free Report) by 24.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,169,222 shares of the specialty chemicals company's stock after selling 701,444 shares during the period. Wellington Management Group LLP owned approximately 0.67% of LyondellBasell Industries worth $152,713,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company's stock worth $650,465,000 after purchasing an additional 657,443 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of LyondellBasell Industries by 10.4% in the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company's stock worth $452,852,000 after purchasing an additional 606,234 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of LyondellBasell Industries by 12.7% in the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company's stock worth $333,994,000 after purchasing an additional 534,456 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of LyondellBasell Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company's stock worth $316,113,000 after purchasing an additional 509,996 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of LyondellBasell Industries by 10.0% in the 4th quarter. Northern Trust Corp now owns 2,726,246 shares of the specialty chemicals company's stock worth $202,478,000 after purchasing an additional 247,336 shares in the last quarter. 71.20% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the firm's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $53.57, for a total transaction 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 trade represents a 11.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LYB. Argus cut LyondellBasell Industries from a "buy" rating to a "hold" rating in a report on Friday, May 30th. The Goldman Sachs Group cut their target price on LyondellBasell Industries from $81.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, April 28th. Fermium Researc raised LyondellBasell Industries to a "strong-buy" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on LyondellBasell Industries from $60.00 to $52.00 and set a "neutral" rating for the company in a research report on Monday, August 4th. Finally, Wells Fargo & Company lowered their price target on LyondellBasell Industries from $75.00 to $65.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $63.08.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock traded up $3.2460 during trading hours on Friday, hitting $58.7160. 7,920,792 shares of the company's stock traded hands, compared to its average volume of 5,568,035. LyondellBasell Industries N.V. has a 12-month low of $47.55 and a 12-month high of $99.36. The stock has a market capitalization of $18.89 billion, a price-to-earnings ratio of 76.26 and a beta of 0.85. The company has a fifty day simple moving average of $58.57 and a 200-day simple moving average of $62.69. 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 (NYSE:LYB - Get Free Report) last announced its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.25). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The business had revenue of $7.66 billion for the quarter, compared to analysts' expectations of $7.58 billion. During the same period in the prior year, the business earned $2.24 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. 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 will be paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 9.3%. LyondellBasell Industries's dividend payout ratio (DPR) is currently 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.