Atria Wealth Solutions Inc. Cuts Stock Holdings in LyondellBasell Industries N.V. $LYB

Atria Wealth Solutions Inc. decreased its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 42.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,852 shares of the specialty chemicals company’s stock after selling 2,871 shares during the period. Atria Wealth Solutions Inc.’s holdings in LyondellBasell Industries were worth $223,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Rossby Financial LCC bought a new stake in LyondellBasell Industries during the first quarter worth $25,000. JFS Wealth Advisors LLC lifted its holdings in LyondellBasell Industries by 352.3% during the first quarter. JFS Wealth Advisors LLC now owns 398 shares of the specialty chemicals company’s stock worth $28,000 after acquiring an additional 310 shares during the period. Investment Management Corp VA ADV lifted its holdings in LyondellBasell Industries by 177.6% during the first quarter. Investment Management Corp VA ADV now owns 408 shares of the specialty chemicals company’s stock worth $29,000 after acquiring an additional 261 shares during the period. Hilltop National Bank bought a new stake in LyondellBasell Industries during the second quarter worth $29,000. Finally, TruNorth Capital Management LLC bought a new stake in LyondellBasell Industries during the first quarter worth $42,000. Hedge funds and other institutional investors own 71.20% of the company’s stock.

LyondellBasell Industries Price Performance

LYB opened at $45.20 on Thursday. The stock has a 50-day moving average price of $51.64 and a 200-day moving average price of $56.00. LyondellBasell Industries N.V. has a 12-month low of $44.87 and a 12-month high of $89.50. The company has a current ratio of 1.77, a quick ratio of 1.04 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $14.54 billion, a P/E ratio of 58.70 and a beta of 0.87.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share 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 analysts’ expectations 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 quarter in the prior year, the company earned $2.24 earnings per share. Equities analysts predict that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, August 25th. This represents a $5.48 annualized dividend and a dividend yield of 12.1%. LyondellBasell Industries’s dividend payout ratio is currently 711.69%.

Insider Activity

In other news, CEO Peter Z. E. Vanacker sold 20,000 shares of the 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 owned 160,351 shares of the company’s stock, valued at approximately $8,590,003.07. This represents a 11.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

LYB has been the topic of several research reports. Royal Bank Of Canada lowered their target price on LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research note on Tuesday, August 5th. Citigroup lowered their target price on LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, October 2nd. UBS Group lowered their target price on LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating on the stock in a research note on Monday, October 6th. Bank of America decreased their price objective on LyondellBasell Industries from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.56.

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.