Assenagon Asset Management S.A. Sells 770 Shares of LyondellBasell Industries (NYSE:LYB)

Assenagon Asset Management S.A. reduced its holdings in LyondellBasell Industries (NYSE:LYB) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,073 shares of the specialty chemicals company’s stock after selling 770 shares during the period. Assenagon Asset Management S.A.’s holdings in LyondellBasell Industries were worth $3,877,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Dodge & Cox increased its position in LyondellBasell Industries by 5.3% in the 4th quarter. Dodge & Cox now owns 16,965,832 shares of the specialty chemicals company’s stock worth $1,260,052,000 after buying an additional 851,365 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of LyondellBasell Industries by 7.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,582,119 shares of the specialty chemicals company’s stock worth $637,394,000 after purchasing an additional 558,137 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of LyondellBasell Industries by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 6,804,205 shares of the specialty chemicals company’s stock worth $512,913,000 after purchasing an additional 199,054 shares in the last quarter. Invesco Ltd. grew its holdings in shares of LyondellBasell Industries by 13.5% during the 4th quarter. Invesco Ltd. now owns 5,826,318 shares of the specialty chemicals company’s stock worth $432,721,000 after purchasing an additional 694,055 shares in the last quarter. Finally, Amundi grew its holdings in shares of LyondellBasell Industries by 48.6% during the 4th quarter. Amundi now owns 3,858,033 shares of the specialty chemicals company’s stock worth $283,452,000 after purchasing an additional 1,260,913 shares in the last quarter. 71.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on LYB shares. Royal Bank of Canada decreased their price objective on LyondellBasell Industries from $62.00 to $61.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 29th. Citigroup decreased their price objective on LyondellBasell Industries from $66.00 to $58.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Piper Sandler decreased their price objective on LyondellBasell Industries from $67.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price target on LyondellBasell Industries from $81.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, April 28th. Finally, UBS Group reaffirmed a “sell” rating and issued a $51.00 price target (down previously from $76.00) on shares of LyondellBasell Industries in a research note on Monday, April 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $69.75.

LyondellBasell Industries Trading Down 0.1%

Shares of LYB opened at $60.06 on Monday. The stock has a fifty day moving average price of $57.65 and a two-hundred day moving average price of $68.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.13 and a current ratio of 1.83. LyondellBasell Industries has a 52-week low of $51.11 and a 52-week high of $100.46. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 0.97 and a beta of 0.82.

LyondellBasell Industries (NYSE:LYB) last issued its quarterly earnings data on Friday, April 25th. The specialty chemicals company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.03). LyondellBasell Industries had a net margin of 3.39% and a return on equity of 15.97%. The business had revenue of $7.68 billion during the quarter, compared to the consensus estimate of $7.69 billion. During the same quarter in the previous year, the firm posted $1.53 EPS. The company’s revenue for the quarter was down 7.6% compared to the same quarter last year. Analysts predict that LyondellBasell Industries will post 6.31 EPS for the current fiscal year.

LyondellBasell Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Monday, June 2nd were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $5.48 dividend on an annualized basis and a dividend yield of 9.12%. This is an increase from LyondellBasell Industries’s previous quarterly dividend of $1.34. LyondellBasell Industries’s payout ratio is presently 169.14%.

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.