Allianz Asset Management GmbH Sells 65,071 Shares of LyondellBasell Industries N.V. $LYB

Allianz Asset Management GmbH reduced its stake in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 10.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,878 shares of the specialty chemicals company’s stock after selling 65,071 shares during the quarter. Allianz Asset Management GmbH owned 0.18% of LyondellBasell Industries worth $33,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Allen Mooney & Barnes Investment Advisors LLC grew its stake in shares of LyondellBasell Industries by 69.1% during the second quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 249,852 shares of the specialty chemicals company’s stock valued at $14,456,000 after buying an additional 102,140 shares during the last quarter. M&T Bank Corp grew its stake in shares of LyondellBasell Industries by 1.1% during the first quarter. M&T Bank Corp now owns 19,950 shares of the specialty chemicals company’s stock valued at $1,405,000 after buying an additional 209 shares during the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of LyondellBasell Industries by 166.2% in the first quarter. KLP Kapitalforvaltning AS now owns 237,831 shares of the specialty chemicals company’s stock worth $16,743,000 after purchasing an additional 148,500 shares during the last quarter. Private Advisor Group LLC grew its stake in shares of LyondellBasell Industries by 44.3% in the first quarter. Private Advisor Group LLC now owns 14,474 shares of the specialty chemicals company’s stock worth $1,019,000 after purchasing an additional 4,442 shares during the last quarter. Finally, NewEdge Advisors LLC grew its stake in shares of LyondellBasell Industries by 103.2% in the first quarter. NewEdge Advisors LLC now owns 44,265 shares of the specialty chemicals company’s stock worth $3,116,000 after purchasing an additional 22,486 shares during the last quarter. 71.20% of the stock is owned by institutional investors.

Insider Activity

In other 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 transaction of $1,071,400.00. Following the completion of the transaction, the chief executive officer directly owned 160,351 shares in the company, valued at approximately $8,590,003.07. This trade represents a 11.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LYB shares. Bank of America cut their target price 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. 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. 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. Deutsche Bank Aktiengesellschaft cut their target price on LyondellBasell Industries from $58.00 to $53.00 and set a “hold” rating on the stock in a research note on Wednesday, October 1st. Finally, Zacks Research raised LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, LyondellBasell Industries currently has a consensus rating of “Hold” and a consensus price target of $58.56.

LyondellBasell Industries Stock Performance

LyondellBasell Industries stock opened at $46.17 on Friday. The stock’s 50 day simple moving average is $51.95 and its two-hundred day simple moving average is $56.28. 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 stock has a market cap of $14.85 billion, a price-to-earnings ratio of 59.97 and a beta of 0.87. LyondellBasell Industries N.V. has a fifty-two week low of $44.89 and a fifty-two week high of $92.14.

LyondellBasell Industries (NYSE:LYB) last posted its quarterly earnings data 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 firm 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.24 earnings per share. As a group, analysts expect that LyondellBasell Industries N.V. will post 6.31 earnings per share for the current fiscal year.

LyondellBasell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Monday, August 25th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 11.9%. The ex-dividend date was Monday, August 25th. LyondellBasell Industries’s dividend payout ratio (DPR) is presently 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.