Bank of New York Mellon Corp Boosts Stock Position in LyondellBasell Industries N.V. $LYB

Bank of New York Mellon Corp raised its position in shares of LyondellBasell Industries N.V. (NYSE:LYB) by 16.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,848,621 shares of the specialty chemicals company’s stock after purchasing an additional 262,979 shares during the quarter. Bank of New York Mellon Corp owned 0.57% of LyondellBasell Industries worth $148,925,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LYB. Clearstead Advisors LLC lifted its stake in shares of LyondellBasell Industries by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 668 shares of the specialty chemicals company’s stock valued at $29,000 after buying an additional 390 shares in the last quarter. ORG Partners LLC raised its holdings in LyondellBasell Industries by 960.0% during the fourth quarter. ORG Partners LLC now owns 689 shares of the specialty chemicals company’s stock valued at $30,000 after acquiring an additional 624 shares during the period. Quarry LP bought a new stake in LyondellBasell Industries during the third quarter valued at about $31,000. Key Capital Management INC purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at about $34,000. Finally, Fideuram Asset Management Ireland dac purchased a new position in shares of LyondellBasell Industries in the fourth quarter valued at about $34,000. 71.20% of the stock is currently owned by institutional investors.

LyondellBasell Industries Stock Performance

Shares of NYSE:LYB opened at $59.23 on Monday. The firm has a fifty day simple moving average of $62.92 and a two-hundred day simple moving average of $62.81. LyondellBasell Industries N.V. has a 52 week low of $41.58 and a 52 week high of $83.94. The company has a quick ratio of 1.03, a current ratio of 1.54 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $19.12 billion, a P/E ratio of -23.79, a PEG ratio of 0.18 and a beta of 0.32.

LyondellBasell Industries (NYSE:LYB) last announced its quarterly earnings results on Friday, May 1st. The specialty chemicals company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.18. LyondellBasell Industries had a negative net margin of 2.68% and a positive return on equity of 5.68%. The firm had revenue of $7.20 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same quarter last year, the firm earned $0.33 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts expect that LyondellBasell Industries N.V. will post 9.07 earnings per share for the current fiscal year.

LyondellBasell Industries Dividend Announcement

The business also recently disclosed 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 4.7%. The ex-dividend date of this dividend was Monday, June 1st. LyondellBasell Industries’s dividend payout ratio (DPR) is presently -110.84%.

Analysts Set New Price Targets

Several research firms recently issued reports on LYB. Morgan Stanley increased their target price on LyondellBasell Industries from $52.00 to $77.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Zacks Research cut LyondellBasell Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Mizuho dropped their price target on LyondellBasell Industries from $76.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, July 1st. Citigroup cut their price objective on shares of LyondellBasell Industries from $80.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Finally, Wells Fargo & Company upgraded shares of LyondellBasell Industries from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $80.00 to $98.00 in a research report on Thursday, May 28th. One investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $72.22.

LyondellBasell Industries 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.