IVC Wealth Advisors LLC Sells 3,801 Shares of LyondellBasell Industries N.V. $LYB

IVC Wealth Advisors LLC lowered its position in LyondellBasell Industries N.V. (NYSE:LYB) by 34.2% in the second quarter, HoldingsChannel.com reports. The fund owned 7,324 shares of the specialty chemicals company’s stock after selling 3,801 shares during the quarter. IVC Wealth Advisors LLC’s holdings in LyondellBasell Industries were worth $424,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. OLD National Bancorp IN raised its position in LyondellBasell Industries by 6.6% in the 2nd quarter. OLD National Bancorp IN now owns 81,386 shares of the specialty chemicals company’s stock worth $4,709,000 after purchasing an additional 5,040 shares during the last quarter. Highland Capital Management LLC raised its position in LyondellBasell Industries by 29.7% in the 2nd quarter. Highland Capital Management LLC now owns 56,545 shares of the specialty chemicals company’s stock worth $3,272,000 after purchasing an additional 12,940 shares during the last quarter. Capital City Trust Co. FL raised its position in LyondellBasell Industries by 2.0% in the 2nd quarter. Capital City Trust Co. FL now owns 28,777 shares of the specialty chemicals company’s stock worth $1,665,000 after purchasing an additional 564 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in LyondellBasell Industries in the 2nd quarter worth approximately $284,000. Finally, Future Financial Wealth Managment LLC raised its position in LyondellBasell Industries by 94.2% in the 2nd quarter. Future Financial Wealth Managment LLC now owns 6,700 shares of the specialty chemicals company’s stock worth $388,000 after purchasing an additional 3,250 shares during the last quarter. Institutional investors own 71.20% of the company’s stock.

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 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 $8,590,003.07. The trade was a 11.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Rothschild & Co Redburn dropped their price objective 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. Mizuho dropped their price objective on shares of LyondellBasell Industries from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating for the company in a research report on Wednesday. Bank Of America (Bofa) dropped their price objective on shares of LyondellBasell Industries from $56.00 to $55.00 in a research report on Monday, June 30th. Finally, Wells Fargo & Company dropped their price objective on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a research report on Monday, August 4th. One investment 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.13.

LyondellBasell Industries Stock Performance

Shares of LyondellBasell Industries stock opened at $49.49 on Friday. The firm has a fifty day moving average of $53.48 and a two-hundred day moving average of $57.93. The stock has a market capitalization of $15.92 billion, a price-to-earnings ratio of 64.28 and a beta of 0.87. LyondellBasell Industries N.V. has a 52 week low of $47.55 and a 52 week high of $96.81. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.25). The business had revenue of $7.66 billion for 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 business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.24 EPS. As a group, equities research analysts predict that LyondellBasell Industries N.V. will post 6.31 EPS for the current 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 issued 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 11.1%. LyondellBasell Industries’s payout ratio is 711.69%.

About LyondellBasell Industries

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.