Allianz Asset Management GmbH Lowers Stock Holdings in LyondellBasell Industries N.V. $LYB

Allianz Asset Management GmbH reduced its position in LyondellBasell Industries N.V. (NYSE:LYB) by 10.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 584,878 shares of the specialty chemicals company’s stock after selling 65,071 shares during the period. Allianz Asset Management GmbH’s holdings in LyondellBasell Industries were worth $33,841,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Allen Mooney & Barnes Investment Advisors LLC raised its holdings in LyondellBasell Industries by 69.1% in the 2nd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock worth $14,456,000 after acquiring an additional 102,140 shares during the last quarter. M&T Bank Corp raised its holdings in LyondellBasell Industries by 1.1% in the 1st quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company’s stock worth $1,405,000 after acquiring an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS raised its holdings in LyondellBasell Industries by 166.2% in the 1st quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company’s stock worth $16,743,000 after acquiring an additional 148,500 shares during the last quarter. Private Advisor Group LLC raised its holdings in LyondellBasell Industries by 44.3% in the 1st quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company’s stock worth $1,019,000 after acquiring an additional 4,442 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in LyondellBasell Industries by 103.2% in the 1st quarter. NewEdge Advisors LLC now owns 44,265 shares of the specialty chemicals company’s stock worth $3,116,000 after acquiring an additional 22,486 shares during the last quarter. 71.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LYB shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. Rothschild & Co Redburn cut their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, September 12th. BMO Capital Markets cut their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group cut their target price on shares of LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $58.56.

LyondellBasell Industries Trading Up 0.7%

Shares of LYB stock opened at $46.17 on Friday. LyondellBasell Industries N.V. has a 1 year low of $44.89 and a 1 year high of $92.14. The firm has a fifty day moving average price of $51.95 and a 200-day moving average price of $56.28. 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 company has a market cap of $14.85 billion, a price-to-earnings ratio of 59.97 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (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 business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the firm earned $2.24 EPS. The company’s revenue was down 11.8% on a year-over-year basis. As a group, equities analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.9%. LyondellBasell Industries’s payout ratio is presently 711.69%.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the business’s stock in a transaction on Friday, August 15th. The shares were 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 owned 160,351 shares of the company’s stock, valued at $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.