SteelPeak Wealth LLC Increases Position in LyondellBasell Industries N.V. $LYB

SteelPeak Wealth LLC raised its position in LyondellBasell Industries N.V. (NYSE:LYB) by 506.6% during the second quarter, HoldingsChannel reports. The firm owned 22,030 shares of the specialty chemicals company’s stock after buying an additional 18,398 shares during the quarter. SteelPeak Wealth LLC’s holdings in LyondellBasell Industries were worth $1,275,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in shares of LyondellBasell Industries by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 9,239,562 shares of the specialty chemicals company’s stock valued at $650,465,000 after buying an additional 657,443 shares during the last quarter. Invesco Ltd. grew its position in shares of LyondellBasell Industries by 10.4% in the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock valued at $452,852,000 after buying an additional 606,234 shares during the last quarter. Federated Hermes Inc. grew its position in shares of LyondellBasell Industries by 12.7% in the 1st quarter. Federated Hermes Inc. now owns 4,744,239 shares of the specialty chemicals company’s stock valued at $333,994,000 after buying an additional 534,456 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of LyondellBasell Industries by 12.8% in the 1st quarter. JPMorgan Chase & Co. now owns 4,490,241 shares of the specialty chemicals company’s stock valued at $316,113,000 after buying an additional 509,996 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of LyondellBasell Industries by 15.7% in the 1st quarter. Alliancebernstein L.P. now owns 4,105,317 shares of the specialty chemicals company’s stock valued at $289,014,000 after buying an additional 557,397 shares during the last quarter. 71.20% of the stock is owned by hedge funds and other institutional investors.

LyondellBasell Industries Stock Up 1.0%

LYB stock opened at $49.19 on Wednesday. LyondellBasell Industries N.V. has a one year low of $47.55 and a one year high of $95.27. The stock has a market capitalization of $15.82 billion, a PE ratio of 63.88 and a beta of 0.87. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.04 and a current ratio of 1.77. The company has a fifty day moving average of $52.93 and a 200-day moving average of $57.61.

LyondellBasell Industries (NYSE:LYB) last released 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). LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the business posted $2.24 EPS. The firm’s revenue was down 11.8% on a year-over-year basis. As a group, analysts expect that LyondellBasell Industries N.V. will post 6.31 EPS for the current 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 paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 11.1%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries’s dividend payout ratio (DPR) is 711.69%.

Insider Activity at LyondellBasell Industries

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Monday, August 4th. UBS Group lowered their price objective on shares of LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating on the stock in a research report on Monday. BMO Capital Markets lowered their price objective on shares of LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Wednesday, August 6th. Royal Bank Of Canada lowered their price objective on shares of LyondellBasell Industries from $64.00 to $54.00 and set a “sector perform” rating on the stock in a research report on Tuesday, August 5th. Finally, Citigroup lowered their price objective on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.07.

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.