LyondellBasell Industries N.V. $LYB Stock Holdings Lifted by TD Asset Management Inc

TD Asset Management Inc lifted its position in LyondellBasell Industries N.V. (NYSE:LYB) by 4.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 253,666 shares of the specialty chemicals company’s stock after buying an additional 11,948 shares during the quarter. TD Asset Management Inc’s holdings in LyondellBasell Industries were worth $14,677,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of LyondellBasell Industries by 7.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock worth $650,465,000 after acquiring an additional 657,443 shares in the last quarter. Invesco Ltd. increased its position 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 worth $452,852,000 after acquiring an additional 606,234 shares in the last quarter. Federated Hermes Inc. increased its position in shares of LyondellBasell Industries by 12.7% in the first quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company’s stock worth $333,994,000 after acquiring an additional 534,456 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of LyondellBasell Industries by 12.8% during the first 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 during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of LyondellBasell Industries by 15.7% during the first quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company’s stock worth $289,014,000 after purchasing an additional 557,397 shares during the period. 71.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at LyondellBasell Industries

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of LyondellBasell Industries stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total value of $1,071,400.00. Following the transaction, the chief executive officer owned 160,351 shares of the company’s stock, valued at $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on LYB shares. Evercore ISI decreased their price target on shares of LyondellBasell Industries from $90.00 to $65.00 and set an “in-line” rating for the company in a report on Tuesday, September 23rd. Wells Fargo & Company decreased their price target on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Bank of America decreased their price target on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Tuesday, October 14th. Rothschild & Co Redburn decreased their price target on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating for the company in a report on Friday, September 12th. Finally, Citigroup decreased their price target on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.56.

LyondellBasell Industries Price Performance

NYSE LYB opened at $46.17 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $14.85 billion, a PE ratio of 59.97 and a beta of 0.87. The company has a 50 day moving average price of $51.95 and a two-hundred day moving average price of $56.28. LyondellBasell Industries N.V. has a 12-month low of $44.89 and a 12-month high of $92.14.

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 analysts’ consensus estimates 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 net margin of 0.74% and a return on equity of 9.35%. LyondellBasell Industries’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 earnings per share. As a group, equities analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were given a $1.37 dividend. 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 dividend payout ratio (DPR) is currently 711.69%.

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.