LyondellBasell Industries N.V. $LYB Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. lessened its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 13.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,321 shares of the specialty chemicals company’s stock after selling 2,140 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in LyondellBasell Industries were worth $829,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rossby Financial LCC acquired a new position in shares of LyondellBasell Industries during the 1st quarter worth $25,000. Investment Management Corp VA ADV increased its position in LyondellBasell Industries by 177.6% during the 1st 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 in the last quarter. Hilltop National Bank purchased a new stake in LyondellBasell Industries during the 2nd quarter worth about $29,000. TruNorth Capital Management LLC purchased a new stake in LyondellBasell Industries during the 1st quarter worth about $42,000. Finally, Brown Lisle Cummings Inc. increased its position in LyondellBasell Industries by 55.2% during the 2nd 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 in the last quarter. Institutional investors and hedge funds own 71.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on LYB shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of LyondellBasell Industries in a research report on Wednesday, October 8th. BMO Capital Markets dropped their price objective on LyondellBasell Industries from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Wednesday, August 6th. Wells Fargo & Company lowered their price target on LyondellBasell Industries from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Monday, August 4th. The Goldman Sachs Group lowered their price target on LyondellBasell Industries from $59.00 to $51.00 and set a “sell” rating for the company in a report on Friday, October 17th. Finally, Zacks Research upgraded LyondellBasell Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $58.56.

Insiders Place Their Bets

In other LyondellBasell Industries 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 stock was 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 in the company, valued at $8,590,003.07. This represents a 11.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

LyondellBasell Industries Stock Down 2.0%

Shares of NYSE:LYB opened at $46.68 on Thursday. 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 N.V. has a 1 year low of $44.87 and a 1 year high of $88.79. The stock has a market capitalization of $15.01 billion, a P/E ratio of 60.62 and a beta of 0.87. The stock has a 50-day simple moving average of $51.01 and a 200-day simple moving average of $55.69.

LyondellBasell Industries (NYSE:LYB) last issued its earnings results on Friday, August 1st. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the previous year, the firm posted $2.24 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts forecast that LyondellBasell Industries N.V. will post 6.31 earnings per share 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 issued a dividend of $1.37 per share. The ex-dividend date was Monday, August 25th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 11.7%. LyondellBasell Industries’s payout ratio is presently 711.69%.

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.