Keudell Morrison Wealth Management Has $288,000 Stake in LyondellBasell Industries N.V. $LYB

Keudell Morrison Wealth Management lowered its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 13.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,984 shares of the specialty chemicals company’s stock after selling 748 shares during the period. Keudell Morrison Wealth Management’s holdings in LyondellBasell Industries were worth $288,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its stake in LyondellBasell Industries by 7.7% during 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 purchasing an additional 657,443 shares during the last quarter. Invesco Ltd. boosted its stake in LyondellBasell Industries by 10.4% during the 1st quarter. Invesco Ltd. now owns 6,432,552 shares of the specialty chemicals company’s stock valued at $452,852,000 after purchasing an additional 606,234 shares during the last quarter. Federated Hermes Inc. boosted its stake in LyondellBasell Industries by 12.7% during 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 purchasing an additional 534,456 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in LyondellBasell Industries by 12.8% during 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 purchasing an additional 509,996 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in LyondellBasell Industries by 15.7% during 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 purchasing an additional 557,397 shares during the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

LyondellBasell Industries Trading Up 0.3%

NYSE:LYB opened at $49.49 on Friday. 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 $15.92 billion, a PE ratio of 64.28 and a beta of 0.87. The firm’s 50 day moving average is $53.48 and its 200 day moving average is $57.93. LyondellBasell Industries N.V. has a 12 month low of $47.55 and a 12 month high of $96.81.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.25). The company had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.58 billion. LyondellBasell Industries had a return on equity of 9.35% and a net margin of 0.74%.The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $2.24 EPS. Sell-side analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current year.

LyondellBasell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Monday, August 25th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.1%. The ex-dividend date of this dividend was Monday, August 25th. LyondellBasell Industries’s payout ratio is 711.69%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank Of America (Bofa) cut their target price on LyondellBasell Industries from $56.00 to $55.00 in a research note on Monday, June 30th. Royal Bank Of Canada cut 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. Wells Fargo & Company cut their target price on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating on the stock in a research note on Monday, August 4th. JPMorgan Chase & Co. cut their target price on LyondellBasell Industries from $60.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, August 4th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of LyondellBasell Industries in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, LyondellBasell Industries has a consensus rating of “Hold” and a consensus target price of $60.13.

Insider Activity at LyondellBasell Industries

In related 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

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.