abrdn plc Increases Stock Holdings in LyondellBasell Industries (NYSE:LYB)

abrdn plc raised its position in shares of LyondellBasell Industries (NYSE:LYB – Get Rating) by 15.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 91,438 shares of the specialty chemicals company’s stock after purchasing an additional 12,088 shares during the quarter. abrdn plc’s holdings in LyondellBasell Industries were worth $7,592,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in LyondellBasell Industries by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 32,347,352 shares of the specialty chemicals company’s stock valued at $2,435,108,000 after purchasing an additional 271,342 shares during the last quarter. State Street Corp grew its stake in LyondellBasell Industries by 2.9% during the 1st quarter. State Street Corp now owns 12,322,280 shares of the specialty chemicals company’s stock valued at $1,266,977,000 after purchasing an additional 348,169 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in LyondellBasell Industries by 6.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,662,363 shares of the specialty chemicals company’s stock valued at $387,102,000 after purchasing an additional 270,339 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in LyondellBasell Industries by 205.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,454,483 shares of the specialty chemicals company’s stock valued at $458,010,000 after purchasing an additional 2,995,335 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its stake in LyondellBasell Industries by 0.5% during the 3rd quarter. AustralianSuper Pty Ltd now owns 4,337,383 shares of the specialty chemicals company’s stock valued at $326,518,000 after purchasing an additional 19,447 shares during the last quarter. Hedge funds and other institutional investors own 91.12% of the company’s stock.

LyondellBasell Industries Price Performance

NYSE:LYB opened at $90.89 on Monday. LyondellBasell Industries has a 12 month low of $71.46 and a 12 month high of $117.22. The stock has a 50 day moving average of $91.41 and a two-hundred day moving average of $90.12. The company has a current ratio of 1.85, a quick ratio of 1.05 and a debt-to-equity ratio of 0.83. The firm has a market cap of $29.56 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 1.17 and a beta of 1.21.

LyondellBasell Industries (NYSE:LYB – Get Rating) last posted its quarterly earnings data on Friday, April 28th. The specialty chemicals company reported $2.50 EPS for the quarter, topping the consensus estimate of $1.80 by $0.70. LyondellBasell Industries had a return on equity of 28.95% and a net margin of 6.40%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.80 billion. During the same period in the previous year, the business earned $4.00 EPS. LyondellBasell Industries’s quarterly revenue was down 22.1% on a year-over-year basis. On average, analysts expect that LyondellBasell Industries will post 9.7 earnings per share for the current fiscal year.

LyondellBasell Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Tuesday, May 30th will be given a $1.25 dividend. The ex-dividend date is Friday, May 26th. This is a positive change from LyondellBasell Industries’s previous quarterly dividend of $1.19. This represents a $5.00 dividend on an annualized basis and a dividend yield of 5.50%. LyondellBasell Industries’s dividend payout ratio is 51.52%.

Analysts Set New Price Targets

LYB has been the subject of several analyst reports. Atlantic Securities raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $110.00 price objective for the company in a report on Tuesday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on LyondellBasell Industries from $100.00 to $110.00 in a report on Monday, May 1st. Piper Sandler raised LyondellBasell Industries from a “neutral” rating to an “overweight” rating and set a $118.00 price objective for the company in a report on Tuesday, April 11th. Jefferies Financial Group cut LyondellBasell Industries from a “buy” rating to a “hold” rating and decreased their price objective for the company from $113.00 to $90.00 in a report on Thursday, April 13th. Finally, Barclays boosted their price objective on LyondellBasell Industries from $98.00 to $100.00 in a report on Monday, May 1st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, LyondellBasell Industries presently has an average rating of “Hold” and an average target price of $99.37.

About LyondellBasell Industries

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LyondellBasell Industries NV engages in the refinery and production of plastic resins and other chemicals. It operates through the following segments: Olefins and Polyolefins-Americas; Olefins and Polyolefins-Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology.