Townsend & Associates Inc Has $2.14 Million Holdings in LyondellBasell Industries N.V. $LYB

Townsend & Associates Inc grew its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 15.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,502 shares of the specialty chemicals company’s stock after purchasing an additional 4,483 shares during the period. Townsend & Associates Inc’s holdings in LyondellBasell Industries were worth $2,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crews Bank & Trust raised its holdings in shares of LyondellBasell Industries by 16.4% in the second quarter. Crews Bank & Trust now owns 1,245 shares of the specialty chemicals company’s stock valued at $72,000 after purchasing an additional 175 shares during the last quarter. Forza Wealth Management LLC raised its holdings in shares of LyondellBasell Industries by 1.6% in the first quarter. Forza Wealth Management LLC now owns 12,705 shares of the specialty chemicals company’s stock valued at $894,000 after purchasing an additional 200 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in LyondellBasell Industries by 4.3% during the second quarter. Central Pacific Bank Trust Division now owns 4,830 shares of the specialty chemicals company’s stock worth $279,000 after buying an additional 200 shares during the last quarter. TCW Group Inc. increased its holdings in LyondellBasell Industries by 1.1% during the first quarter. TCW Group Inc. now owns 18,428 shares of the specialty chemicals company’s stock worth $1,297,000 after buying an additional 202 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in LyondellBasell Industries by 2.5% during the first quarter. Horizon Investments LLC now owns 8,297 shares of the specialty chemicals company’s stock worth $584,000 after buying an additional 202 shares during the last quarter. 71.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Bank Of America (Bofa) lowered their target price on shares of LyondellBasell Industries from $56.00 to $55.00 in a report on Monday, June 30th. Bank of America lowered their target price on shares of LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, October 14th. BMO Capital Markets lowered their target price on shares of LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Wednesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Wednesday, October 1st. Finally, Rothschild & Co Redburn lowered their target price on shares of LyondellBasell Industries from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $58.56.

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 shares were sold at an average price of $53.57, for a total value 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 approximately $8,590,003.07. The trade was a 11.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $46.17 on Monday. LyondellBasell Industries N.V. has a one year low of $44.89 and a one year high of $92.14. The company has a market cap of $14.85 billion, a P/E ratio of 59.97 and a beta of 0.87. The firm’s fifty day moving average price is $51.95 and its two-hundred day moving average price is $56.24. 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) last announced 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 the consensus estimate of $7.58 billion. LyondellBasell Industries had a net margin of 0.74% and a return on equity of 9.35%. The company’s revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.24 EPS. Equities analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.9%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s payout ratio is presently 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.