Belpointe Asset Management LLC Acquires 364 Shares of LyondellBasell Industries N.V. $LYB

Belpointe Asset Management LLC lifted its holdings in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 7.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,525 shares of the specialty chemicals company’s stock after acquiring an additional 364 shares during the period. Belpointe Asset Management LLC’s holdings in LyondellBasell Industries were worth $320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in LYB. Rossby Financial LCC purchased a new position in LyondellBasell Industries during the first quarter worth about $25,000. JFS Wealth Advisors LLC boosted 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 purchasing an additional 310 shares during the last quarter. Investment Management Corp VA ADV boosted 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 purchasing an additional 261 shares during the last quarter. Hilltop National Bank purchased a new position in LyondellBasell Industries during the second quarter worth about $29,000. Finally, Brown Lisle Cummings Inc. boosted its holdings in LyondellBasell Industries by 55.2% during the second quarter. Brown Lisle Cummings Inc. now owns 599 shares of the specialty chemicals company’s stock worth $35,000 after purchasing an additional 213 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

LyondellBasell Industries Stock Performance

NYSE LYB opened at $44.96 on Friday. The company’s 50 day moving average is $52.35 and its 200-day moving average is $57.21. LyondellBasell Industries N.V. has a 12-month low of $44.89 and a 12-month high of $95.27. The company has a quick ratio of 1.04, a current ratio of 1.77 and a debt-to-equity ratio of 0.94. The firm has a market cap of $14.46 billion, a P/E ratio of 58.38 and a beta of 0.87.

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

LyondellBasell Industries Announces Dividend

The firm also recently declared 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 12.2%. LyondellBasell Industries’s payout ratio is 711.69%.

Analysts Set New Price Targets

LYB has been the topic of several analyst reports. Zacks Research upgraded shares of LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. BMO Capital Markets dropped 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 research note on Wednesday, August 6th. Royal Bank Of Canada dropped their target price on shares of 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. UBS Group dropped their target price on shares of LyondellBasell Industries from $44.00 to $43.00 and set a “sell” rating on the stock in a research note on Monday, October 6th. Finally, Citigroup dropped their target price on shares of LyondellBasell Industries from $53.00 to $49.00 and set a “neutral” rating on the stock in a research note on Thursday, October 2nd. One 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $60.07.

Insider Activity

In related news, CEO Peter Z. E. Vanacker sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $53.57, for a total transaction 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. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

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.