Perigon Wealth Management LLC Purchases 6,272 Shares of LyondellBasell Industries N.V. $LYB

Perigon Wealth Management LLC increased its position in LyondellBasell Industries N.V. (NYSE:LYB) by 24.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,227 shares of the specialty chemicals company’s stock after purchasing an additional 6,272 shares during the quarter. Perigon Wealth Management LLC’s holdings in LyondellBasell Industries were worth $1,865,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LYB. Pacer Advisors Inc. lifted its position in LyondellBasell Industries by 3,502.2% in the first quarter. Pacer Advisors Inc. now owns 2,015,528 shares of the specialty chemicals company’s stock worth $141,893,000 after purchasing an additional 1,959,576 shares during the period. HighTower Advisors LLC lifted its holdings in shares of LyondellBasell Industries by 137.9% during the first quarter. HighTower Advisors LLC now owns 1,760,045 shares of the specialty chemicals company’s stock valued at $123,907,000 after acquiring an additional 1,020,169 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of LyondellBasell Industries by 7.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock valued at $650,465,000 after acquiring an additional 657,443 shares during the period. Nuveen LLC bought a new position in shares of LyondellBasell Industries during the first quarter valued at $43,280,000. Finally, Invesco Ltd. increased its stake in shares of LyondellBasell Industries by 10.4% in the first quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock valued at $452,852,000 after buying an additional 606,234 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LYB has been the subject of a number of research reports. Citigroup lowered their target price on LyondellBasell Industries from $56.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, August 4th. Royal Bank Of Canada lowered their target price on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating for the company in a research note on Tuesday, August 5th. Mizuho lifted their price objective on LyondellBasell Industries from $65.00 to $67.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 15th. Argus lowered LyondellBasell Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Bank Of America (Bofa) lowered their price objective on LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. One research 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $64.00.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. The trade was a 11.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.14% of the company’s stock.

LyondellBasell Industries Price Performance

LyondellBasell Industries stock opened at $49.48 on Friday. The firm has a market capitalization of $15.92 billion, a P/E ratio of 64.26 and a beta of 0.85. LyondellBasell Industries N.V. has a 1 year low of $47.55 and a 1 year high of $97.60. The business has a 50-day moving average of $54.98 and a 200-day moving average of $58.90. 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) last posted 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). The company had revenue of $7.66 billion for 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%.LyondellBasell Industries’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 earnings per share. On average, equities analysts anticipate that LyondellBasell Industries N.V. will post 6.31 EPS for the current year.

LyondellBasell Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries’s 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.