Mirae Asset Global Investments Co. Ltd. Has $15.57 Million Stock Position in LyondellBasell Industries N.V. $LYB

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,128 shares of the specialty chemicals company’s stock after buying an additional 21,530 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.08% of LyondellBasell Industries worth $15,572,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LYB. Rossby Financial LCC acquired a new position in LyondellBasell Industries during the 1st quarter worth about $25,000. JFS Wealth Advisors LLC raised its holdings in LyondellBasell Industries by 352.3% during the 1st quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock worth $28,000 after purchasing an additional 310 shares during the last quarter. Investment Management Corp VA ADV raised its holdings in LyondellBasell Industries by 177.6% during the 1st 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 during the last quarter. Brown Lisle Cummings Inc. raised its holdings in LyondellBasell Industries by 55.2% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 213 shares during the last quarter. Finally, TruNorth Capital Management LLC bought a new stake in LyondellBasell Industries during the 1st quarter worth about $42,000. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Stock Performance

Shares of LYB stock opened at $49.49 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.77 and a quick ratio of 1.04. The stock has a market cap of $15.92 billion, a PE ratio of 64.28 and a beta of 0.87. The stock has a 50-day moving average of $53.48 and a 200-day moving average of $57.93. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $96.81.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results 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). LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period last year, the company earned $2.24 earnings per share. The business’s revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were given a $1.37 dividend. The ex-dividend date was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. LyondellBasell Industries’s payout ratio is currently 711.69%.

Insider Activity

In related 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on LYB shares. Deutsche Bank Aktiengesellschaft dropped their price objective on LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday. Wells Fargo & Company dropped their price objective on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Weiss Ratings reissued a “sell (d+)” rating on shares of LyondellBasell Industries in a report on Saturday, September 27th. Bank Of America (Bofa) dropped their price objective on LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Finally, Citigroup dropped their price objective on LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus target price of $60.13.

LyondellBasell Industries Company 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.