LyondellBasell Industries N.V. $LYB Stake Reduced by Assetmark Inc.

Assetmark Inc. reduced its holdings in LyondellBasell Industries N.V. (NYSE:LYB) by 34.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,831 shares of the specialty chemicals company’s stock after selling 13,995 shares during the quarter. Assetmark Inc.’s holdings in LyondellBasell Industries were worth $2,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LYB. Capital Research Global Investors boosted its holdings in shares of LyondellBasell Industries by 108.7% in the fourth quarter. Capital Research Global Investors now owns 9,159,702 shares of the specialty chemicals company’s stock worth $396,615,000 after buying an additional 4,770,260 shares during the period. AQR Capital Management LLC lifted its position in shares of LyondellBasell Industries by 512.9% in the 4th quarter. AQR Capital Management LLC now owns 3,093,318 shares of the specialty chemicals company’s stock valued at $133,941,000 after acquiring an additional 2,588,636 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in LyondellBasell Industries by 5,451.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,457,591 shares of the specialty chemicals company’s stock worth $63,114,000 after purchasing an additional 1,431,334 shares during the period. Morgan Stanley grew its position in LyondellBasell Industries by 16.9% during the 4th quarter. Morgan Stanley now owns 8,971,741 shares of the specialty chemicals company’s stock worth $388,476,000 after purchasing an additional 1,300,271 shares in the last quarter. Finally, Norges Bank purchased a new position in LyondellBasell Industries during the 4th quarter worth approximately $52,210,000. 71.20% of the stock is owned by institutional investors and hedge funds.

LyondellBasell Industries Stock Down 0.8%

Shares of LYB opened at $61.80 on Friday. The stock has a market cap of $19.95 billion, a price-to-earnings ratio of -24.82, a P/E/G ratio of 0.20 and a beta of 0.32. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. LyondellBasell Industries N.V. has a 12 month low of $41.58 and a 12 month high of $83.94. The company has a 50-day moving average price of $61.95 and a two-hundred day moving average price of $63.32.

LyondellBasell Industries (NYSE:LYB) last released its quarterly earnings data on Friday, May 1st. The specialty chemicals company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.18. The company had revenue of $7.20 billion for the quarter, compared to analyst estimates of $7.53 billion. LyondellBasell Industries had a positive return on equity of 5.68% and a negative net margin of 2.68%.The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. Equities analysts predict that LyondellBasell Industries N.V. will post 8.73 EPS for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Monday, June 1st were paid a $0.69 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, June 1st. LyondellBasell Industries’s payout ratio is currently -110.84%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho dropped their price objective on LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 1st. Wolfe Research raised their target price on LyondellBasell Industries from $38.00 to $62.00 and gave the company an “underperform” rating in a report on Tuesday, April 14th. Morgan Stanley cut their price target on LyondellBasell Industries from $77.00 to $72.00 and set an “overweight” rating for the company in a report on Monday. Wells Fargo & Company raised LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $80.00 to $98.00 in a research report on Thursday, May 28th. Finally, UBS Group lowered their price objective on shares of LyondellBasell Industries from $82.00 to $73.00 and set a “neutral” rating on the stock in a research note on Friday, June 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.94.

LyondellBasell Industries Company Profile

LyondellBasell Industries N.V. (NYSE: LYB) is a global chemical company headquartered in Houston, Texas, that specializes in the production of polyolefins and advanced polymers. Through its extensive portfolio, the company supplies raw materials for a wide range of end markets, including packaging, automotive, construction, electronics and consumer goods. By combining proprietary process technologies with expertise in catalysts, LyondellBasell aims to deliver value-added solutions that enhance product performance and sustainability.

The company’s integrated operations encompass the manufacture of olefins and polyolefins, advanced polymer products, chemical intermediates and refining activities.